Harmsworth Pooled Property Unit Trust, advised by Helix Property Advisors, has acquired the freehold investment of two petrol filling stations and convenience stores, in Hemel Hempstead and Roehampton, London SW15 from companies advised by Avignon Capital Limited, for £6.54m.
Both properties are let to Co-operative Foodstores Ltd, for a further 11.5 years and produce a combined annual income of £408,840.
Isabella Valgimigli of Helix Property Advisors said: “These acquisitions are part of a planned expansion of our client’s portfolio and the diversification strategy to purchase alternative and non-traditional assets in regional and well positioned locations.”
Phil Walker of Avignon Capital commented: “These assets have consistently delivered secure income to our investors over the past five years and this sale delivers the returns presented in the acquisition business plan. We will be looking to re-invest the proceeds in the early part of 2016.”
Helix was represented by CBRE, and the vendor by Barber Wadlow.