Helical Bar Share News (HLCL)

Property firm Helical Bar saw good operational progress across all areas in the first quarter to 30 June 2010 as it looks increasingly like the previous strong recovery in property values is stalling."Whilst the outlook for commercial property remains uncertain, we believe that now is the right time to selectively progress our development pipeline, especially in Central London offices and larger residential projects," said chief executive Michael Slade. Helical, which lets Oakwood Business Park, Hailsham and Clyde Shopping Centre, Clydebank, said it is considering a number of potential acquisition opportunities.During the quarter the company completed 15 lettings and increased its annualised income by £300,000.At its Polish operations the sale of its retail development in Wroclaw to a private property investment fund is progressing.