Helical Bar Regulatory News (HLCL)

20 March 2019

HELICAL PLC (the "Company")

ONE CREECHURCH PLACE, EC3, ACHIEVES 100% OCCUPANCY FOLLOWING FINAL LETTING

Helical plc, one of London's leading property developers, has agreed the final letting at One Creechurch Place, EC3, meaning that the 17 storey, prime office scheme is now 100% let. 

Hyperion Insurance Group ("Hyperion"), the international insurance intermediary, and already the largest tenant at the building has taken the fourth floor, 16,000 sq ft on a 15 year lease. Following this letting, Hyperion will occupy a total of nine floors of the building representing 147,921 sq ft. 

Located in the heart of London's insurance and financial districts, the 272,505 sq ft multi let scheme is now let to seven different companies from the insurance and tech industries including Dell Corporation, Softcat, Travelers and Enstar.

The building was developed by Helical with the City of London in joint venture with HOOPP (Healthcare of Ontario Pension Plan), which saw the companies jointly fund the project in a 90:10 split (HOOPP:Helical/City), with Helical acting as development manager. Following this successful outcome, Helical will receive the balance of its profit share and its equity stake in the project will be returned for reinvestment into other opportunities.

Gerald Kaye, CEO of Helical, said: "The culmination of this successful letting campaign for One Creechurch Place shows clearly that there is always demand for the best-located and highest-quality office developments, whilst the draw of London to global businesses remains strong.

"Working in joint venture with HOOPP and the City of London allowed us to deliver a spectacular flagship building and we are very proud to have completed the lettings with a strong line up of occupiers."

Savills acted for Hyperion. The City of London, Helical and HOOPP were advised by Cushman & Wakefield, Ingleby Trice, JLL and Savills.

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