HPPUT, represented by Helix Property Advisors, has completed on the acquisition of six additional properties with a total value of £67.66 million. The purchases include office buildings in the Thames Valley, two hotels, an out of town retail unit and a 37,000 sq ft distribution centre in the Midlands.
Robin Fell, Chief Executive Officer at Helix, said: “These acquisitions are part of the planned expansion of our client’s property portfolio and is in line with our investment strategy to acquire and secure long-term income in diverse sectors across the UK.”
The portfolio’s expansion includes the £11.97 million acquisition by HPPUT of the 20,460 sq ft DFS in Maidstone, Kent and, in an off-market transaction ESH acted for Helix. The purchase of the freehold investment of a South Coast hotel, let to a major operator, for an undisclosed sum was also purchased off market, Cew Capital acted for Helix.
In north London, HPPUT purchased the Travelodge Edmonton from a private client of ADS for £5.95 million and in Bracknell, Berkshire it purchased properties totalling 31,000 sq ft from a client of CBRE. The properties consist of an office and industrial unit which are let to Honda Motor Europe and produce an annual rent of £191,000 and were purchased for £4.3 million. CBRE advised the seller whilst Fineman Ross represented Helix. ADS acted for Helix.
In Bedford, HPPUT has purchased the freehold investment of Matthew Clark Distribution Warehouse, Apex South, Bedford from A2 Contractors for £5.75m. The 37,243 sq ft drinks distribution facility, is let to Matthew Clark, the national drinks wholesaler, and is held on a 20-year lease. The investment produces an annual income of £300,000.
As part of its strategy, HPPUT has disposed of the freehold investment of The Culpepper public house in Commercial Street, London E1 for £2.55 million through ADS.