Helical reaches completion on London office for State Street

(Alliance News) - Helical PLC on Thursday reported practical completion of a London office development which will be occupied by State Street Corp.

The property developer targeting London is managed by Orion Capital Managers. Helical shares fell 1.3% to 184.56 pence on Thursday afternoon in London.

With Orion, Helical said it had achieved practical completion of a 195,000-square-foot office development in the City of London.

The property is located at 100 Bridge Street, between Blackfriars and Farringdon stations.

Helical emphasised the development's environmental credentials, noting that 90% of the original structure had been retained, and that its embodied carbon reading was 61.% below the Greater London Authority's office property benchmark.

Back in April 2025, Helical had announced the forward sale of 100 Bridge Street to Boston, Massachusetts-based State Street. The net price is GBP333 million, of which Helical expects to receive GBP166.5 million. This is due to complete by next Wednesday.

"The proceeds of the disposal will be used to repay the amount drawn under the GBP155 million development facility, with surplus funds paid out to each joint venture partner in accordance with the terms of the joint venture agreement signed in May 2024," Helical explained.

Matthew Bonning-Snook, Helical chief executive, commented: "This is a significant milestone for our best-in-class 100 New Bridge Street development, where we have reimagined the building as a high-quality, future-focused workplace that demonstrates the potential of existing assets to meet modern occupier expectations while supporting the City's ambitions around sustainability and carbon reduction. Completing the sale to State Street will unlock significant returns to our investors, as we continue to deliver highly sought after real estate into supply constrained sub markets."

By Holly Munks, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2026 Alliance News Ltd. All Rights Reserved.

Helical Bar