Business
Helical makes ?21M forward purchase in Shoreditch
Helical makes ?21M forward purchase in Shoreditch.
About this update from Helical Plc
[{"type":"text","content":"\n \nRNS Number : 0803T Helical Bar PLC 15 November 2013 \n \n\n15 November 2013\n \nHelical Bar plc (\"Helical\" or \"Helical Bar\" or the \"Company\")\n \nHELICAL BAR MAKES £21M FORWARD PURCHASE IN SHOREDITCH\n \nHelical Bar today announces that it has committed to forward purchase a new 43,000 sq ft (NIA) office building on Clifton Street, Shoreditch, London EC2 for £21 million. \nThe Company will complete the freehold purchase upon practical completion of the construction, which is anticipated for summer 2015. McLaren Property is the vendor and McLaren Construction will undertake the development. \nDuncan Walker, Investment Director at Helical Bar commented: \n\"This purchase gives Helical further exposure to the dynamic Shoreditch market where we anticipate continued rental growth and tenant demand. As a new build, it will complement our recent deals in the form of Maple House on City Road and New Loom House in Whitechapel, all of which present different asset management, letting or refurbishment opportunities.\"\nJohn Gatley, Managing Director of McLaren Property added \n\"McLaren is pleased to have concluded this deal with Helical Bar and excited about the prospect of delivering what we hope will turn out to be a very successful office development.\"\nTudor Toone advised Helical Bar. \n---Ends---\n \nFor further information, please contact:\n \n\n\n\n\nHelical Bar plc\nDuncan Walker / Tim Murphy\n \n\n\n020 7629 0113\n\n\n\n\nFTI Consulting \nStephanie Highett / Dido Laurimore / Nina Legge\n\n\n020 7831 3113\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQLLFVELDLSLIV\n ","length":3240,"tagName":"div"}]