Re Preferred Bidder for Site

Helical Bar PLC
12 July 2002

12 July 2002

                        Helical Bar plc ('Helical Bar')

 
                HELICAL BAR AND MORLEY SELECTED AS PREFERRED BIDDER
                  FOR DAIRY CREST SITE IN WOOD LANE, LONDON, W12

Helical Bar in partnership with Morley Fund Management has been selected by
Dairy Crest Group plc ('Dairy Crest'), the UK's premier chilled dairy foods
company, as the preferred bidder for Dairy Crest's 10.3 acre Westway site at
Wood Lane, London W12.


The site comprises a former milk processing and distribution plant which lies
south of the A40 (M) and adjacent to the White City Underground Station (Central
Line).  The area is emerging as one of Central London's most significant
regeneration opportunities with the proposed 1.3 million sq ft retail and
leisure scheme to the south of the site and with the BBC proposing a further
1.45 million sq ft of broadcasting and production space opposite.


In addition the area will benefit from major transport infrastructure changes
including a new station on the West London Line and Hammersmith & City Line, new
bus interchanges linking with the stations and the remodelling of Shepherds Bush
underground station.


Gerald Kaye, Development Director of Helical Bar, commented:


'Our selection as preferred bidder represents an extremely exciting opportunity.
West London has been identified in the Mayor of London's draft London Plan as
an opportunity area and the Dairy Crest site offers a rare chance to develop a
substantial high density office scheme  in West London.


'We are also particularly pleased to be working again with Morley for whom we
are redeveloping 40 Berkeley Square, London, W1.'


Richard Jones of Morley Fund Management commented:


'With the significant integrated transport interchange being developed so close
by, this development will be truly sustainable and we are sure it will repeat
our success at Paddington Central.'


Insignia Richard Ellis are acting on behalf of Helical Bar and Morley Fund
Management and Dairy Crest are being represented by Knight Frank.


                                     -ENDS-

For further information, please contact:-


Helical Bar
Gerald Kaye/ Matthew Bonning-Snook
Tel:  [phone]


Financial Dynamics
Stephanie Highett/Dido Laurimore
Tel:  [phone]


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