Blackstone and M7 snap up £150m Helical shed portfolio 

Blackstone and M7 Real Estate have agreed a deal to buy the remaining assets in Helical’s industrial portfolio for £150m – a 6.5% yield. The duo bid over the asking price of £132m and fended off fierce competition from underbidders that included Westbrook, Canmoor and Tristan, Ares and Oxenwood with KKR. Helical’s decision to sell forms part of its strategy to focus on its London holdings and development opportunities and this deal marks its exit from the sector. The 20-asset portfolio totals around 2.2m sq ft and includes last-mile properties in Yate, Bristol, Peterborough, Buzzard, Chester and Northampton. It is