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back HELICAL COMPLETES FINAL LETTING AT THE TOWER TO CONCLUDE THE BOWER’S LEASING ACTIVITY

The 3.12 acre site comprises circa 333,500 sq ft of office and retail space

Helical plc, one of London’s leading property developers, has let the final floor of The Tower, the second phase of its award winning Old Street scheme at The Bower, London, EC1, taking the scheme to 100% let.

Brilliant Basics, an Infosys Company and existing occupier, has taken the 11,331 sq ft 15th floor on a five-year lease, taking its total footprint to 40,479 sq ft across four floors as it continues to implement its UK scale up strategy.

The Tower is let at an average contracted office rent of £73.55 per sq ft to a diverse range of international businesses, all of whom benefit from the shared facilities at The Bower, which include extensive public realm, an internal café and meeting area, large bike store and shower rooms.

Brilliant Basics is a global leader in Digital Design and Innovation. Infosys acquired the company almost two years ago to expand Infosys’ digital and innovation footprint across EMEA. Brilliant Basics is one of several fast growing, design & creative companies that have chosen to move into The Bower, demonstrating its broad occupier appeal.

Other companies occupying The Tower include:
• Farfetch, the online luxury fashion retail platform;
• Finablr, the owner of Travelex and UAE Exchange;
• Incubeta, a multi-national marketing group;
• Snowflake, a provider of a data warehouse built for the cloud;
• WeWork, a global provider of flexible, collaborative and shared workspaces;

Tom Anderson, Senior Investment Executive of Helical, commented: “It’s brilliant that we were able to conclude this letting on Christmas Eve, rounding off a very successful year of leasing activity for Helical. The Bower is home to a fantastic community of businesses, making it an exciting environment in which to work. This is demonstrated by Brilliant Basics doubling their initial occupation from two floors to four within 12 months.”

Anand Verma, Founder and CEO of Brilliant Basics, an Infosys Company, added: “We have been incredibly impressed with the quality and design of the office space at The Tower since moving in a year ago. Our employees and clients have benefitted from the agile workspaces that encourage collaboration and co-innovation. We are pleased that Helical has been able to accommodate our request to expand our footprint, which has helped support our ambitious growth in London.”

The 2019 World Architecture Award winning The Bower is located directly next to Old Street roundabout and designed by renowned architects AHMM. The scheme provides 312,575 sq ft of Grade-A office space, across three buildings. Other occupiers in the first phase include CBS, Stripe, Allegis, Pivotal and John Brown Media. The average office rent across all buildings is £64.53 per sq ft. In addition, there is a full complement of high-quality food and beverage operations including Serata Hall, Wagamama, The Shoreditch Grind, Enoteca de Luca, BrewDog AF, Bone Daddies, Honest Burger and Noxy Brothers.

In close proximity to the City of London, and on the edge of thriving Shoreditch, The Bower’s modern aesthetic is fused with industrial features, aimed at creating a working space that caters for a variety of sectors, in keeping with the dynamic of the local area.

Helical was advised by JLL & Colliers International.

For further information please contact:

Helical
Gerald Kaye/Tim Murphy/Tom Anderson
Tel: 020 7629 0113

FTI Consulting
Dido Laurimore/Richard Gotla/Andrew Davis
Tel: 020 3727 1000
schelical@fticonsulting.com