Business
Helical selected as preferred office JV partner
Helical selected as preferred office JV partner.
About this update from Helical Plc
[{"type":"text","content":"\n \n \n \n HELICAL PLC\n \n \n \n \n \n \n \n \n \n (\"Helical\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n Transport for London selects Helical as preferred commercial office portfolio joint venture partner\n \n \n \n \n \n \n ·\n Helical is selected to progress to preferred bidder stage with TfL for its commercial office portfolio joint venture\n \n \n ·\n Portfolio will create well-connected, sustainable and inclusive workspaces across central London and includes three over-station development sites at Bank, Paddington and Southwark\n \n \n ·\n New partnership is part of TfL's wider property development programme, which is delivering operational benefits and generating vital revenue to allow TfL to keep the city moving and invest in safe, green and reliable public transport\n \n \n \n \n \n Transport for London (TfL)'s wholly owned commercial property company, TTL Properties Ltd (TTLP), has announced it has selected Helical as its preferred investment partner for its sustainable commercial office portfolio across central London, subject to contract negotiations and a 10-day standstill period.\n \n \n \n \n \n Helical was selected as the preferred investment partner after a competitive procurement process involving a group of central London's most accomplished office developers and investors. TTLP, advised by JLL and Herbert Smith Freehills LLP, assessed the potential partners' sustainability strategies, partnering approach, and investment proposals for its development sites at Bank, Paddington and Southwark.\n \n \n \n \n \n The partnership will see the delivery of new high-quality and sustainable office space above or close to Tube stations, which currently consist of three new commercial office developments at Bank, Paddington and Southwark. All three sites have full planning permission to deliver sustainable commercial office developments that provide exceptional workplaces and positively impact the local community.\n \n \n \n \n \n ·\n Bank Over-Station Development - located above the new station entrance on Cannon Street, this eight-storey development, along with a basement, will include both office and retail space, measuring around 140,000 sq. ft. Net Internal Area (NIA), external terraces on fifth, sixth and seventh floors and a green roof. A start on site is envisa...