REG - Helical PLC - Completion of 100 New Bridge Street acquisition

HelicalAnnouncement

01/03/2022 12:15

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RNS Number : 2111D  Helical PLC  01 March 2022

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FOR IMMEDIATE RELEASE

1 March 2022

 

 

Helical plc ("Helical" or the "Company")

Completion of the acquisition of FPM 100 New Bridge Street Limited

Further to the results of the General Meeting announcement on 18 February
2022, Helical is pleased to announce the completion of the acquisition of the
entire issued share capital of the Guernsey incorporated single asset company,
FPM 100 New Bridge Street Limited (the "Acquisition"), that owns 100 New
Bridge Street, London EC4, a 167,026 sq. ft office building with ground floor
retail units. Total gross cash consideration of approximately £160 million
has now been paid in respect of the Acquisition.

The building, which is held on a 999-year long leasehold at a peppercorn rent
from National Rail Infrastructure Limited, was completed in 1992 and is
currently let to international law firm Baker McKenzie, whose lease expires in
December 2023. Helical proposes to carry out a major, sustainable
refurbishment to create a new best-in-class Grade A office building and
undertake significant public realm improvements around the site.

Unless otherwise defined, capitalised terms used in this announcement have the
meanings given to them in the Class 1 circular dated 2 February 2022, which is
available on the Company's website at
https://www.helical.co.uk/investors/shareholder-information/agm/
(https://www.helical.co.uk/investors/shareholder-information/agm/)

 

Enquiries

Helical
plc
+ 44 (0) 20 7629 0113

Gerald
Kaye

Tim
Murphy

 

Peel Hunt
LLP
+ 44 (0) 20 7418  8900

(Sponsor)

Capel
Irwin

Carl
Gough

Henry Nicholls
 
 

 

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Disclaimer

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United
Kingdom by the FCA, is acting exclusively for Helical and for no-one else in
connection with the matters referred to in this announcement and will not be
responsible to any person other than Helical for providing the protections
afforded to clients of Peel Hunt, nor for providing advice in relation to the
matters referred to herein. Neither Peel Hunt nor any of its affiliates owes
or accepts any duty, liability or responsibility whatsoever (whether direct or
indirect, whether in contract, in tort, under statute or otherwise) to any
person who is not a client of Peel Hunt in connection with the matters
referred to in this announcement, or otherwise.

 

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