back HELICAL STRIKES GOLD WITH FOUR NEW LETTINGS AT THE LOOM, E1

Helical has completed a series of new lettings at The Loom, its multi-let work space in Whitechapel E1, including a high-profile lease to Project M, the fast-expanding app developer behind the mobile game phenomenon ‘Dig That Gold’, where players win real 24 Karat Gold bars delivered to their home as they progress through levels within the game. To date, over 1,000 gold bars have been awarded to players worldwide. 

The 1,053 sq ft letting to Project M takes total new lease agreements signed at The Loom in December to nearly 10,000 sq ft. These new lettings include 3,504 sq ft to Eight Inc, a global design studio, 1,378 sq ft to Pink Banana, a creative agency/production studio, and 3,450 sq ft of further space to Hey Habito, the online mortgage adviser fintech firm, which already occupies 3,604 sq ft in the building. All the rents achieved were either at or above September 2017 ERV. These lettings finalised a successful 2017 at The Loom, having completed 14 office lettings across a total of 34,145 sq ft during the year.

The Loom is one of London’s few remaining Victorian wool warehouses and is home to major growth firms across the tech and creative industries. Helical completed a comprehensive refurbishment of the building in 2016 to include a new entrance onto Gower’s Walk, an enhanced reception and communal area as well as new shower and cycle facilities. There are 47 office units providing between 1,000 sq ft to 9,500 sq ft of attractive space, let to both new and exciting start-ups and more established firms.

Tom Anderson, Senior Investment Executive at Helical, commented: “From a 19th century wool storage warehouse, we have created a hub for leading talent in the tech and creative industries, supporting growth firms as they expand and thrive. These recent lettings further highlight this new age of occupier, where employers are attracted by the community of like-minded firms while employees want to be in an appealing work space closer to where they live and in an area that excites them.” 

Sean McNicholas, CEO of Project M, said: “As the business behind the addictive ‘Dig That Gold’ game, naturally we were only looking for the gold standard in work space for our team. We can’t wait to move in to our self-contained game studio and be part of The Loom community, having outgrown our current serviced offices. We were drawn not only to the warehouse character of the building but also the collaborative atmosphere and great mix of tenants. The Loom offers us the flexibility we need as a fast-growing business and allows us to have our own identity within the building which we are really looking forward to.”

Helical was advised by Colliers International and Hall Kemp. Eight Inc was represented by Making Moves and Hey Habito was advised by Devono. Project M and Pink Banana were unrepresented.

For further information please contact:

Helical

Tom Anderson                                                            Tel: 020 7629 0113 

FTI Consulting

Dido Laurimore/Tom Gough/Richard Gotla              Tel: 020 3727 1000