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New deal - Helix advises on Peterborough disposal for Harmsworth Pension Funds
August 29, 2017

New deal - Helix advises on Peterborough disposal for Harmsworth Pension Funds

Helix are pleased to announce the recent deal completed for our client Harmsworth Pension Funds Trustees Limited. We disposed of the freehold investment of Units 1 – 4, Pavilions West, Cygnet Park, Peterborough PE7 8FD for £7,062,500 to Mayfair Capital Property Unit Trust.

Located in a fast expanding suburb, the property comprises four standalone restaurant units totalling 15,812 sq ft. It was bought on a phased forward funding agreement, with construction beginning in 2012 and completing in 2014. The property is currently let to Bella Italia, Chiquito, Harvester and Frankie and Benny’s.

With over 70% of the income stream secured to 5A1 Tenants, and a long WAULT of 17.4 years to expiries, Pavilions West represents a solid investment with a secure income stream.

Isabella Valgimigli, Property and Asset Manager at Helix said: “This transaction forms part of a focused disposal strategy, to identify assets at their peak, dispose and reinvest funds to further enhance the existing portfolio.”

The deal reflects an impressive net initial yield of 5.31%.

Aston Rose represented Helix Property Advisors and Edgerly Simpson Howe advised the purchaser.

 

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