Helical PLC Disposal of Kaleidoscope, Farringdon for GBP158.5m (4916Y)
06 Septembre 2022 - 5:22PM
UK Regulatory
TIDMHLCL
RNS Number : 4916Y
Helical PLC
06 September 2022
HELICAL PLC
("Helical" or the "Group")
HELICAL SELLS KALEIDOSCOPE, FARRINGDON EC1
Helical is pleased to announce that it has exchanged contracts
on the sale of the single asset company, Farringdon East (Jersey)
Limited, which owns the long leasehold interest in Kaleidoscope,
Lindsey Street, EC1 to Chinachem Group at a disposal price of
GBP158.5m reflecting a capital value of GBP1,789 psf and a marginal
premium to book value. The 150 year lease from Transport for London
was granted in 2018 and has a head rent geared to 10% of contracted
rents. Completion is due to take place in ten days.
The six storey 88,580 sq ft office building sits above the
Farringdon East Crossrail Station and is occupied in its entirety
by TikTok, the popular short form video hosting service owned by
Bytedance, who took a 15 year lease in March 2021 at GBP7,633,053
per annum (an average rent in excess of GBP86 psf). The PLP
designed scheme is accredited BREEAM Excellent, WiredScore Platinum
and provides a 5,000 sq ft roof terrace together with high quality
end of journey facilities and features integrated artwork by Dutch
artists De Makers Van.
Matthew Bonning-Snook, Property Director at Helical,
commented:
"Kaleidoscope was the first over station development to complete
on the Elizabeth Line and we were able to attract one of the
world's fastest growing tech businesses due to its striking design,
highly accessible location, excellent amenities and strong
environmental credentials. We will now seek to recycle the proceeds
from the sale into delivering new highly sustainable
'best-in-class' Central London office schemes, where occupier
demand remains strong."
Donald Choi, Executive Director and CEO of Chinachem Group,
commented:
"We're delighted to have acquired Kaleidoscope successfully as
it is located in one of London's best performing sub-markets with
impressive rental growth. We intend to hold this property for
long-term investment.
"Having now made our London entrance, we will incrementally
increase our exposure in gateway cities of other major developed
markets in order to move further forward our diversification
objectives and build a long-term resilient income stream. However,
Hong Kong still remains our home and the core market of our
business operations."
Helical were advised by JLL and Chinachem were advised by
Deloitte and Ingleby Trice.
For further information, please contact:
Helical plc 020 7629 0113
Matthew Bonning-Snook (Property Director)
Tim Murphy (CFO)
Address: 5 Hanover Square, London W1S 1HQ
Website: www.helical.co.uk
Twitter: @helicalplc
FTI Consulting 020 3727 1000
Dido Laurimore/ Richard Gotla
schelical@fticonsulting.com
Media Contact
David Woo
Project Advisor, Corporate Communications
Chinachem Group
Tel: +852 2500 7344 / +852 6626 5762
davidwoo@chinachemgroup.com
Notes to editors:
About Chinachem Group
Since 1960, Chinachem Group has been a leading property
developer in Hong Kong, with a portfolio covering residential,
commercial, retail and industrial buildings for sales and
investment, in addition to operating hotels and property management
services. The Group actively seeks to make a positive contribution
to society through its adherence to the 'Triple Bottom Line', a
commitment that its activities will benefit People, bring
Prosperity to the community and preserve the Planet. Please visit
www.chinachemgroup.com/en
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DISEASNKEFNAEFA
(END) Dow Jones Newswires
September 06, 2022 11:22 ET (15:22 GMT)
Helical (AQSE:HLCL.GB)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Helical (AQSE:HLCL.GB)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024