Business
Update on Portfolio Activity
Update on Portfolio Activity.
About this update from Helical Plc
[{"type":"text","content":"\n \nRNS Number : 6149S Helical PLC 04 October 2017 \n\n\n4 October 2017\nHELICAL PLC \n \n(\"Helical\" or \"The Company\")\n \nUpdate on Portfolio Activity \n\n \nHelical provides an update covering its activities for the period from 13 July 2017 to 3 October 2017, in advance of today's tour of its City and Tech Belt properties for analysts and investors. \nCommenting on the Company's activities, Gerald Kaye, Chief Executive, said:\n\"We are pleased to report that we are close to concluding a number of lettings at our completed development at One Creechurch Place, EC3 and have placed further space under offer at 25 Charterhouse Square, EC1. We have seen rental growth at the London investment assets in our chosen locations where the demand for quality space from the tech and creative industries remains strong. We will shortly be seeking tenants for the remaining space at The Tower, comprising the second phase of The Bower, EC1, and are optimistic our target rents will be achieved.\n\"We continue working towards reducing our non-core holdings with the sale of further units from our retirement village portfolio whilst taking advantage of an offer from an owner-occupier to sell one of our industrial assets. In addition, where we have completed our business plans on assets and can deploy the proceeds elsewhere to generate superior returns, we will look to sell those assets. \n\"Whilst the political background continues to cause uncertainty we note the ongoing demand for UK assets from overseas investors, particularly from the Far East.\"\nLONDON PORTFOLIO\nOur London portfolio provides rental income, opportunities for capital growth and development profits. \nThe Bower, Old Street, EC1\n \nAt The Bower:\n· The Warehouse and The Studio are fully let with all tenants in occupation.\n· Construction works on The Tower continue as planned with the cladding of the building underway and completion due in July 2018.\n· The Tower is 34% pre-let to WeWork and marketing of the remaining floors will commence shortly. \nBarts Square, EC1\n \nAt Barts Square:\n· In the first phase of 144 residential units we have exchanged contracts on 127 units and are due to complete on the sales of the first 13 ...