Helical PLC GBP160M ACQUISITION OF 100 NEW BRIDGE STREET (9627V)
17 Décembre 2021 - 8:00AM
UK Regulatory
TIDMHLCL
RNS Number : 9627V
Helical PLC
17 December 2021
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PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
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JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
HELICAL ADDS SUBSTANTIAL REFURBISHMENT OPPORTUNITY TO FUTURE
DEVELOPMENT PIPELINE WITH ACQUISITION OF
100 NEW BRIDGE STREET
Helical plc, a leading UK real estate company specialising in
the redevelopment and refurbishment of highly sustainable,
best-in-class London office buildings has exchanged contracts to
acquire from the vendor, 100 New Bridge Street Limited, the
Guernsey incorporated single asset company, FPM 100 New Bridge
Street Limited, that owns 100 New Bridge Street, London EC4, a
167,026 sq ft office building for a cash consideration of
GBP160m.
In view of the size of the transaction, which constitutes a
Class I transaction under the Listing Rules, the proposed
acquisition is conditional on Shareholder Approval at a General
Meeting, which is expected to be held in early February 2022.
The building, which is held on a 999-year long leasehold at a
peppercorn from National Rail Infrastructure Limited, was completed
in 1992 and is let to international lawyers Baker McKenzie, whose
lease expires in December 2023. Including ground floor retail
units, the passing rent is circa GBP7.3m per annum (net rents
c.GBP6.5m).
Gerald Kaye, Chief Executive of Helical, commented: "The
acquisition of 100 New Bridge Street provides us with the
opportunity to carry out a major refurbishment, which will have
less impact on the environment than a ground up development, and
which we will be able to deliver more quickly. We expect this to
involve recladding the elevations and incorporating the latest
technology as well as high-quality tenant amenities to create a new
best in class Grade A office building, which will operate to the
highest standards of sustainability.
"100 New Bridge Street is exceptionally well-located, mid-way
between Farringdon and Blackfriars stations and is an island site
with considerable prominence and great views. We will be proposing
to the City of London that we also undertake significant public
realm improvements around the site."
Edward Fairweather, Knight Frank, added: " We were asked to
undertake a discrete sale of 100 New Bridge Street on behalf of the
vendor. They are delighted to have transacted with Helical who have
performed at every turn."
The vendor was advised by Knight Frank and Dentons. Helical was
advised by Clifford Chance and Ingleby Trice.
For further information please contact:
Helical
Gerald Kaye
Tel: 020 7629 0113
FTI Consulting
Dido Laurimore/Richard Gotla/Andrew Davis
Tel: 020 3727 1000
schelical@fticonsulting.com
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(Amendment) (EU Exit) Regulations 2019. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
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END
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