Last checked at 26 Jun 2019 07:00
26 June 2019
HELICAL PLC (the "Company")
HELICAL MAINTAINS MOMENTUM AT THE TOWER, EC1, WITH INCUBETA LETTING
Helical plc, one of London's leading property developers, has secured Incubeta, a multi-national marketing group which unites the three leading specialists NMPi, DQ&A, and Joystick, as its latest occupier at The Tower, EC1, its landmark Old Street scheme. Helical has now let more than 75% of The Bower's second phase office building, to a diverse range of national and international businesses.
As part of its global expansion strategy, Incubeta will bring its three specialist brands together under one roof, taking the whole 16th floor, on a long term lease. The rent achieved was in line with the March 2019 ERV and is consistent with other lettings on comparable floors.
Helical previously signed Finablr, the owner of Travelex and UAE Exchange, to the 17th floor at The Tower, alongside Brilliant Basics, an Infosys Company, to the 10th and 11th floors. Farfetch, the online luxury fashion retail platform, and WeWork, the global provider of flexible, collaborative and shared workspaces, occupy floors seven to nine and one to six respectively. Just four of the seventeen floors in The Tower remain available to let.
Tom Anderson, Senior Investment Executive of Helical plc, commented: "As a fast growing independent group that is rethinking the rules of marketing, we are excited that Incubeta has chosen to be part of The Bower's increasingly sought after dynamic and enterprising community. This letting is further evidence that progressive businesses understand the value that exemplary design and best-in-class buildings can add to their brand and future success. We have a handful of floors remaining with some strong interest and are hopeful of announcing more new lettings soon."
Luke Judge, CEO of Incubeta UK Limited, added: "We're looking forward to moving into The Tower and bringing our three London offices together in one space. Besides being an incredible building in a great location, the new space will help foster a creative and collaborative environment for our whole team to do their best work for our clients. There is a real community in The Tower and it will be a fantastic home from which to continue growing our business."
Located directly next to Old Street roundabout and designed by renowned architects AHMM, The Tower provides 171,434 sq ft of Grade-A office space, on seventeen levels, with two additional ground floor retail units, which have been let to upscale urban food and bar offer Serata Hall and the popular Asian restaurant, Wagamama. It sits adjacent to The Warehouse which is fully let to a range of tenants including CBS, Stripe, Allegis, Pivotal and John Brown Media, as well as a full complement of high-quality food and beverage operations including The Shoreditch Grind, Enoteca de Luca, the Draft House and Bone Daddies. The 3.12 acre site, comprising circa 350,000 sq ft of office and retail space, is currently 88% let.
In close proximity to the City of London, and on the edge of thriving Shoreditch, The Bower's modern aesthetic is fused with industrial features, aimed at creating a working space that caters for a variety of sectors, in keeping with the dynamic of the local area.
The remaining 40,517 sq ft of The Tower offers single or multiple floors of offices with the ability to interconnect for those wanting to be self-contained. The 12th floor is currently being fitted out by Helical so that an occupier can 'Plug & Play', without the time and inconvenience of doing CAT B works themselves. All tenants of the Tower benefit from the shared facilities and amenities at The Bower, which include lounges, a bike store and shower rooms.
Helical was represented by Colliers and JLL.
For further information please contact:
Helical
Gerald Kaye/Tim Murphy/Tom Anderson
Tel: 020 7629 0113
FTI Consulting
Dido Laurimore/Richard Gotla/Andrew Davis
Tel: 020 3727 1000
schelical@fticonsulting.com