Helphire Group sells commercial property

Helphire Group Plc has divested of some of its commercial property portfolio in Chesterfield.

The company has sold off its buildings at Millennium Way Business Park as part of a restructure.

Helphire sold two of the buildings on the site to a private investor in a deal valued at £400,000, while the other two commercial properties on the site were sold to a private property company in a deal valued at £1.5 million.

Knight Frank oversaw the deal, with Robert Hepworth brokering the sale. Mr Hepworth commented: “This is a high yielding freehold office investment opportunity with asset management angles and strong tenant covenants, and the two deals represented an attractive proposition for both sets of investors.”

James Church, property and facilities manager at Helphire, added that the disposal was “an intrinsic part of Helphire's recent financial restructure”.

The buildings have a prominent location close to Chesterfield town centre with easy access to motorways. They all offer high specification office facilities and are fully let to AIG, Spencers Solicitors and other tenants.

The sale comes as reports from the IPD UK property index indicate that the UK commercial property market is showing signs of growth. The index found that returns over the past quarter rose to their highest point for two years at 1.9 per cent in the three months to June.

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