Helical builds on lettings momentum

Helical has announced a series of new lettings across its office portfolio, building on the strong momentum already achieved in the final quarter of 2016.

– At Churchgate and Lee House, Manchester, Economic Solutions has agreed a seven year lease on 15,500 sq ft of office space.

– At The Loom, Whitechapel, Tribe Marketing has taken 5,700 sq ft of space on a five year lease, taking total lettings at The Loom in 2016 to in excess of 30,000 sq ft.

– At Power Road Studios, Chiswick, Interhome has taken 881 sq ft on a five year lease.

The total rent achieved across the three transactions is £531,500 per annum which represents a 6% premium to September ERVs.

Following these recent lettings, Helical has secured new lease agreements on over 125,000 sq ft of space across seven buildings and with 25 different occupiers, demonstrating the attractiveness of Helical’s assets to the occupier market and the Company’s ability to close transactions.

Investment director Duncan Walker said: “These transactions are further evidence of the strength of the occupier market across the UK for the right space and at the right price. We are pleased to be finishing the calendar year with this strong performance and look forward to building on this in 2017.”

At 9:38am: (LON:HLCL) Helical Bar PLC share price was +3p at 293p

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