Helix Property Advisors has sold the long leasehold interest in the Matalan unit on Wheler Road, Seven Stars Industrial Estate, Coventry to Threadneedle Investment Property Trust for £5.9 million, reflecting a net initial yield of 8.75%.
The property is let to Matalan on an assignment from Homebase Limited for 35 years from December 1986. The current annual rental income is £545,850 with five-yearly upward-only reviews.
Whitmarsh Holt Young advised Helix Property Advisors and Wilkinson Williams advised Threadneedle.
