Helix Property Advisors sells former Egg Banking HQ

Helix Property Advisors has sold the freehold investment of the former HQ of Egg Banking at Pride Park in Derby to Praxis for £11m.

The 142,231 sq ft property was vacated by Egg in 2011. The transaction reflects a net initial yield of 15%.

Yvonne Smith of Helix Property Advisors said: “The sale of this substantial asset is part of our strategic portfolio management programme and we will be looking to reinvest in other high-profile, regional properties in the near future.”

Helix Property Advisors was represented by Fineman Ross. Finn & Company advised Praxis.