REG - Helical PLC - HELICAL AGREES SALE OF 25 CHARTERHOUSE SQUARE

HelicalAnnouncement

25/03/2024 07:00

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RNS Number : 0496I  Helical PLC  25 March 2024

 

HELICAL PLC

("Helical" or the "Group")

 
HELICAL AGREES SALE OF 25 CHARTERHOUSE SQUARE

 

Helical plc has exchanged contracts on the sale of the long leasehold interest
in 25 Charterhouse Square, London, EC1 to a Real Estate fund managed by global
alternative investment manager, Ares Management ("Ares)", for £43.5 million.
The disposal price represents a 6.5% discount to the 30 September 2023 book
value.

 

Redeveloped by Helical in 2017, 25 Charterhouse Square is located just a
minute's walk from the Farringdon East Elizabeth Line entrance, with views
overlooking the leafy Charterhouse Square. The six-storey building provides
45,000 sq ft of modern office space and is home to a range of creative
occupiers including marketing agency, Anomaly; the FTSE-listed betting and
gaming company, Entain; and the communications consultancy, Hudson Sandler.
The building is accredited BREEAM Excellent, WiredScore Gold and offers
comprehensive end of journey facilities including nine showers, 94 lockers, 90
secure bike racks, a cycle repair station and a drying room.

 

Gerald Kaye, Chief Executive of Helical plc, commented: "25 Charterhouse
Square is a great example of how Helical is delivering modern, attractive
workplaces while staying true to its sustainability aims. This redevelopment
project transformed the existing building and its success in attracting
forward-thinking, creative occupiers is testament to its high quality design,
accessible location and excellent amenities. We will look to recycle the
proceeds from the sale into our development pipeline, which is focussed on
delivering 'best-in-class' Central London office schemes."

 

Wilson Lamont, Partner and Co-Head of Ares European Real Estate, said: "We are
delighted to work with Helical as we selectively look to invest in the highest
quality assets in the centre of Europe's top cities following a period of
market correction. With London at the forefront of this correction, we are now
seeing attractive value in Zone 1 locations where tenant demand remains
robust, and supply of modern, sustainable space is limited."

 

Helical was advised by Ingleby Trice and Clifford Chance and Ares by Appley,
TT&G Partners, Squarebrook and DLA.

 

For further information, please contact:

 

Helical
plc
020 7629 0113

Gerald Kaye (Chief Executive)

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 (mailto:schelical@fticonsulting.com)

 

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