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Helical PLC - property developer targeting London - Announces that it has completed regears and a new letting across six floors at The Bower, totalling 60,000 square feet. Existing occupier Fin agrees reversionary leases on the eighth and ninth floor of the Warehouse, totalling 17,400 square feet, as well as a new lease on seventh floor of 12,400 square feet. The firm’s leases now extend to 2037, with a break option in 2032. Additionally, beauty and wellness booking marketplace Fresha regears its lease of 29,700 square feet across three floors in The Tower, extending the term to 2037 with a break option in 2032. Helical says the transactions will generate £4.5 million of annual contracted rent and are in line with March 2026 estimated rental values. The letting of seventh floor of The Warehouse increases total occupancy at The Bower to 93.7%, with further space under offer which once let will take occupancy to 96.6%, it adds. Chief Executive Officer Matthew Bonning Snook comments: ‘These new leases with Fin and Fresha, two of our largest occupiers, reinforce the continued appeal of The Bower as a best-in-class campus and underpin our strategy of actively managing and enhancing the asset to meet evolving occupier needs, giving businesses the confidence to commit for the long term. The Bower benefits from its prominent position next to Old Street station and continues to attract a diverse mix of occupiers looking to take advantage of the established technology sector developed around the Silicon Roundabout.’ Current stock price: 190.00 pence 12-month change: down 13% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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