THE BOWER SIGNS ITS FIRST OFFICE TENANTS

RNS Number : 5665Z

Helical Bar PLC

12 December 2014

 

12 December 2014

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

THE BOWER SIGNS ITS FIRST OFFICE TENANTS

Crosstree and Helical agree new leases with Farfetch and John Brown Media

Crosstree Real Estate Partners ("Crosstree") and Helical Bar announce 44,000 sq ft of lettings at The Bower, Old Street to the luxury online fashion retailer Farfetch and a leading global content marketing agency, John Brown Media, cementing its place as a dynamic and vibrant office and leisure destination in the heart of London's Creative Halo.

The Warehouse offers 122,000 sq ft of office space over nine floors. Farfetch has taken  the fourth and fifth floors, comprising 25,520 sq ft at a rent of £50.25 psf. John Brown Media has taken The Studio, a self-contained office building on four levels comprising a total of 18,500 sq ft at £45.00 psf on the first, second and third floors and £40.00 psf on the ground floor. Construction works on both buildings are due to be compl eted in Summer 2015.

Farfetch and John Brown Media will join Z Hotels, Ceviche and Gymbox, who have already been announced as tenants within The Bower's mixed use offer.

The 3.12 acre site immediately adjacent to Old Street Roundabout was acquired by Helical Bar and Crosstree in December 2012 for £60.75 million. The Bower is a comprehensive redevelopment of the existing site which, on completion, will comprise over 310,000 sq ft of office space across three buildings, complemented by circa 100,000 sq ft of new and existing retail, leisure and hotel space.

Andrew Hirsch, Chief Executive of John Brown Media, commented:

"We are moving from West London to Old Street because we want to attract the best talent in the digital media business and are excited about taking space in such a vibrant development as The Bower." 

Gerald Kaye, Development Director, Helical Bar, said: 

"We are delighted to have signed our first office tenants for The Bower, which will provide a dynamic and interesting space for Farfetch and John Brown Media."

Jones Lang LaSalle and Hatton Real Estate are joint letting agents; DeVono advised Farfetch and Kinney Green advised John Brown Media.

ENDS

For further information, please contact: 

Helical Bar plc                                                                                                                            020 7629 0113

Gerald Kaye/Nikki Gibbard

FTI Consulting  Dido Laurimore /Clare Glynn

020 3727 1000

 

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