Helical buys 100 New Bridge Street office site for £160m
Real estate firm Helical has bought City office site 100 New Bridge Street for £160m.
The deal – which is considered a Class I transaction – is conditional to shareholder approval at the firm’s general meeting, to take place in early February.
“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,” Helical’s chief executive Gerald Kaye said.
“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 Canada that we also undertake significant public realm improvements around the site.”
Held on a 999-year-long lease from National Rail, the building is let to international law firm Baker McKenzie until 2023.
Built in 1992, the building has 167,026ft2 of office space, at a £7.3m rent per year.