Helix Property Advisors sells Great Yarmouth retail investment

Helix Property Advisors, on behalf of Harmsworth Pension Funds Trustees Limited, has sold the freehold interest in Matalan Retail, Southtown Road, Great Yarmouth, Norfolk to Helical Bar for £4.75 million, reflecting a net initial yield of 7.75%.

The property, comprising a 38,771 sq ft (3,602 sq m) retail warehouse on a 2.9 acre (1.17 hectare) site, is let to Matalan Retail Limited on a 15 year lease from December 2011 at a current annual rent of £389,468, with five-yearly rent reviews.

Fineman Ross advised Helix Property Advisors and Wilkinson Williams acted for Helical Bar.