Helical Pre-lets 75% of C Space

RNS Number : 1058Q

Helical Bar PLC

15 June 2015

 

Helical Bar plc ("Helical Bar" or the "Company")

HELICAL PRE-LETS 75% OF SHOREDITCH SCHEME BEFORE SUMMER COMPLETION
 

- London's West-to-East worker 'migration' and booming Creative Industries sector behind the demand -

Helical Bar plc has pre-let the majority of its Shoreditch-based C Space office building to DLKW Lowe as the creative advertising agency uproots from West London. DLKW Lowe, which counts Unilever, Post Office and Morrisons as clients, will be taking all but the top floor and half of the third floor of the 62,000 sq ft building and will house all Mullen Lowe Group UK agencies including ad agency DLKW Lowe, activation agency Lowe Open and digital agency Lowe Profero.

Working with architects Buckley Gray Yeoman, the former carpet factory has been transformed by Helical Bar into a contemporary workplace, which retains the character of its industrial past but has been reconfigured to optimise the efficiency of space, maximise natural light and ensure the building reengages with its surroundings.

DLKW Lowe has taken a 15 year lease with a break clause at the 11^th year, leaving only 15,300 sq ft to be let which includes a penthouse floor with sizeable terrace. Completion of the building, which is on City Road in London EC1, is due in August of this year.

Matthew Bonning-Snook, Development Director at Helical Bar plc, commented: "We made a call on the Old Street / Shoreditch area in 2012, with three purchases involving a development pipeline of over 430,000 sq ft. It is now pleasing to see that the type of product we are delivering is right for this market and of course well timed. We are particularly delighted that a leading creative agency like DLKW Lowe is making it their home, relocating from Brompton Cross in South Kensington, in part due to the desire to attract the very best creative talent which this area certainly has in abundance."

Savills and Hall Kemp acted on behalf of Helical Bar and JLL acted on behalf of DLKW Lowe. Studio Octopi has been appointed by DLKW Lowe as architect for the office fit-out

For further information, please contact:

Helical Bar plc Tim Murphy / Matthew Bonning-Snook	020 7629 0113
FTI Consulting Dido Laurimore / Tom Gough / Clare Glynn	020 3727 1000

 

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