Completion of 100 New Bridge Street acquisition

RNS Number : 2111D

Helical PLC

01 March 2022

 

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FOR IMMEDIATE RELEASE

1 March 2022

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

Completion of the acquisition of FPM 100 New Bridge Street Limited

Further to the results of the General Meeting announcement on 18 February 2022, Helical is pleased to announce the completion of the acquisition of the entire issued share capital of the Guernsey incorporated single asset company, FPM 100 New Bridge Street Limited (the "Acquisition"), that owns 100 New Bridge Street, London EC4, a 167,026 sq. ft office building with ground floor retail units. Total gross cash consideration of approximately £160 million has now been paid in respect of the Acquisition.

The building, which is held on a 999-year long leasehold at a peppercorn rent from National Rail Infrastructure Limited, was completed in 1992 and is currently let to international law firm Baker McKenzie, whose lease expires in December 2023. Helical proposes to carry out a major, sustainable refurbishment to create a new best-in-class Grade A office building and undertake significant public realm improvements around the site.

Unless otherwise defined, capitalised terms used in this announcement have the meanings given to them in the Class 1 circular dated 2 February 2022, which is available on the Company's website at https://www.helical.co.uk/investors/shareholder-information/agm/

Enquiries

Helical plc  + 44 (0) 20 7629 0113

Gerald Kaye 

Tim Murphy 

Peel Hunt LLP  + 44 (0) 20 7418  8900

(Sponsor)

Capel Irwin 

Carl Gough 

Henry Nicholls    

Important Notice

The release, publication or distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. The information disclosed in this announcement may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws and regulations of any jurisdiction outside of the United Kingdom.

Disclaimer

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for Helical and for no-one else in connection with the matters referred to in this announcement and will not be responsible to any person other than Helical for providing the protections afforded to clients of Peel Hunt, nor for providing advice in relation to the matters referred to herein. Neither Peel Hunt nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peel Hunt in connection with the matters referred to in this announcement, or otherwise.

 

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