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Helical agrees sale of Cardiff's Morgan Quarter for €64.9 million

Helical plc has sold The Morgan Quarter, in Cardiff, to LaSalle Investment Management, for €64.9 million (£55 million). The sale price is in line with Helical's March 2016 book value and reflects a net initial yield of 5.9% and a reversionary yield of 6.9%. Helical was advised by JLL; the purchaser by Savills.Helical acquired the former David Morgan Department Store and two Victorian arcades in 2005. Since then it has undertaken a substantial value enhancing refurbishment programme, delivering more than 300,000 sq ft of high-quality, award-winning, retail and office space which is let to a number of established retailers and local businesses including White Stuff, Jack Wills, Urban Outfitters and Molton Brown. The Creative Quarter office...[…]