Helical sells Calver Quay shed to Cabot

The London-based developer and landlord has sold a 70,000 sq ft logistics hub at Calver Quay, Warrington to US-based Cabot Properties for £4.7m, following a re-gear of the largest lease at the site.

Helical announced the sale as part of a £19.4m raft of disposals. The firm retains interests in the North West through a trio of Manchester office buildings: Churchgate & Lee House, Dale House and 31 Brown Street.

Cabot is a US-based pension fund that specialises in industrial property, and has been working in Europe increasingly in recent years.

CBRE, which acted for Cabot on this transaction through Rob Woods in its Manchester capital markets team, has represented the investor on previous deals including the 2014 purchase of a Tesco distribution facility in Bolton.

Duncan Walker, investment director at Helical, said: “We continue to rotate our mature assets with these sales, demonstrating the strength of investor demand for income-producing assets as well as highlighting the effectiveness of our ongoing asset management capabilities.”

AVC Digital and Topgrade are the tenants at Calver Quay.

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