Further to the results of the General Meeting announcement on 18 February 2022, Helical is pleased to announce the completion of the acquisition of the entire issued share capital of the Guernsey incorporated single asset company, FPM 100 New Bridge Street Limited (the “Acquisition”), that owns 100 New Bridge Street, London EC4, a 167,026 sq. ft office building with ground floor retail units. Total gross cash consideration of approximately £160 million has now been paid in respect of the Acquisition.
The building, which is held on a 999-year long leasehold at a peppercorn rent from National Rail Infrastructure Limited, was completed in 1992 and is currently let to international law firm Baker McKenzie, whose lease expires in December 2023. Helical proposes to carry out a major, sustainable refurbishment to create a new best-in-class Grade A office building and undertake significant public realm improvements around the site.
Unless otherwise defined, capitalised terms used in this announcement have the meanings given to them in the Class 1 circular dated 2 February 2022, which is available on the Company’s website at https://www.helical.co.uk/investors/shareholder-information/agm/
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