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Helical Bar Plc

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City scheme letting

Office scheme in SE1

Major City scheme on site soon

Midtown site purchased

Southbank opportunity

Mitre Square latest

City scheme to start

New scheme planned in SE1

Developer pushes ahead

City scheme scheduled for 2011

Swan Lane progress

City block close to start

New start in Soho

Helical for Hammersmith

South Bank start

Shortlist for City newbuild

Start date for EC3 scheme

Consent for West End offices

Riverbank House application

Ropemaker rumour

Helical plan 2007 start

Start date for EC2 scheme

City office site for sale

New scheme for SW1

Hammersmith plans

Cleared for City skyscraper

Consent for EC3 tower

L&R preferred for M&S HQ

British Waterways progresses E14 Wharf

Ropemaker redevelopment

Helical proposition in Soho

Listed car park hits office plans?

Moulin site gets go-ahead

McAlpine to build in Berkeley Square?

Plough Place to complete in May

More office space comes on stream

Property company gearing up

Helical Bar, the property company, is raising £29m to fund property acquisitions. The group said that the market opportinities it has been waiting for are arriving, as a number of interesting schemes become available. Helical Bar has been standing back from the development market since 2004/5. The development portfolio for this cycle includes 200 Aldersgate, White City and Mitre Square, EC3. - (10-12-2010)

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London Offices – 2011, Looking Up

The central London property market seems to be at a turning point in terms of construction activity. It would seem that we are at the start of the next development cycle, with the prospect of major office projects starting in 2011.

CityOffices constantly reviews London’s office development projects. The latest ‘Skyline Monitor’ shows that a total of 11 schemes started on site during summer 2010. Schemes such as The Pinnacle in the City, 62 Buckingham Gate, SW1, and Park House in Oxford Street, W1, added a further 1.3m sq ft to office space under construction.

The current total office space under construction in London is 4.2m sq ft, comprising 2.4m in the City; 1.1m sq ft in the West End, 600,000 sq ft on the Southbank and 130,000 sq ft in Midtown.

The 4.2m under construction at present is low when compared to the 13m sq ft under construction two years ago, but does compares favourably with the mere five office schemes started this time last year.

This summer nearly 5.8m sq ft of offices were completed in schemes such as Minerva’s St Botolphs building, EC3; Derwent’s Angel Building, EC1; and Standard Life’s 95 Gresham Street, EC2. A number of lettings have been secured in these buildings and currently half of the 5.8m sq ft has been let, in line with the overall sharp reduction in prime office space available in central London.

CityOffices has identified 21 London office projects where demolition is either underway or the site has been cleared. It is anticipated that starts on around half of these before Christmas 2010, which could result in a further 1.5m sq ft of offices under construction by the New Year.



Looking forward to 2011, Cityoffices is currently tracking 110 office schemes in central London totaling over 22m sq ft, which have planning permission, and where the developer is thought to be considering a start in 2011. The short-list of developers lining up schemes to start next year includes British Land, Land Securities, Great Portland Estates, Helical Bar, and Exemplar.

The reason behind the increasing activity in central London is that Grade A office space availability is expected to hit a low point in late 2014 and rents are already rising to reflect shortages of prime space. Developers are keen to catch the next property ‘wave’ before it peaks and are trying to push ahead with developments. In reality not all these schemes will start but Cityoffices is tracking them all to identify the ‘winning’ development teams. - (19-11-2010)

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Helical Bar calls bottom of the market

Helical Bar has joined other property developers in calling the bottom of the central London office market. Michael Slade, managing director, has commented to the effect that although the City of London office market has bottomed out, he saw no rapid upturn and it might not come on-stream for three years. Taking a more positive view of the West End market he has said that it will come on-stream in two years time. - (28-11-2003)

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Helical Bar scheme for EC3

Helical Bar, the developer, has submitted plans for a 20-storey tower in Mitre Square in the City of London. In a joint venture with Ansbacher Property Developments, Helical Bar is planning to redevelop the Mitre Square island site in London EC3, bounded by Mitre Street, Dukes Place and Creechurch Lane. The scheme comprises about 32,515 sq m (350,000 sq ft) of offices as well as ground-floor retail and restaurant space. Ansbacher and Helical Bar are being advised by Allsop & Co and Ingleby Trice Kennard. - (30-09-2003)

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Rents to fall further says Helical Bar

Michael Slade, chief executive of devepment company Helical Bar is reported as saying that West End rents have further to fall before a 2005 recovery. Mr Slade puts vacancy rates in the City of London at 1993 levels and the West End at 1994 levels. Helical Bar has reduced its exposure to London offices through disposals worth £190m to 41% from 71% a year ago. Helical Bar has said that it is aiming to reduce London offices to 20% of it’s portfolio on expectations of a “flat year”. Mr Salde thinks that the time to come back into the London property market will be 2005 or 2006. - (08-06-2003)

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Greycoat to win Paternoster Row site?

The site of Sheldon House at 1 Paternoster Row could be developed by Greycoat. Earlier this year the Sheldon House and Transept House sites, owned by HSBC, were put on the market at a price said to be around £25m. Greycoat is said to be the favorite to win the site from Pillar Property, Helical Bar and Development Securities. CCF Charterhouse originally planned to occupy the 9,500 sq m (102,000 sq ft) new build scheme but these plans were abandoned when the firm was taken over by HSBC and then sold to ING. - (06-08-2001)

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Helical Bar pre-let

Linklaters & Alliance, the law firm, has confirmed that it has pre-let 8,830 sq m (95,000 sq ft) at 3 Bunhill Row, London EC1. The scheme is being developed by Helical Bar and adjoins the recently completed 25 Chiswell Street building let to rival law firm Slaughter & May. Linklaters has been previously rumoured to have 'overspill' requirements due to expansion and will have to relocate 250 staff from Clements House at 14-18 Gresham Street, London EC2 in the future. DTZ Debenham Tie Leung acted for Linklaters Alliance. - (22-04-2001)

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