Since the EU referendum, Helical has exchanged contracts on two residential units and placed a further unit under offer for a combined sales value of c. £4.0m at an average price of £1,547 psf, in line with sales values achieved for similar units.
Helical has now exchanged contracts on 106 residential units in the first phase of the development comprising 144 units, for a total sales value of £135.7m at an average of £1,581 psf.
Completion of the first phase is due on a rolling basis during H2 2017. Demolition of the buildings comprising the site for the remaining residential scheme of 92 units is due to start in November this year. Demolition of the site at One Bartholomew Close, a 213,000 sq ft office scheme funded by clients of Ashby Capital LLP, has completed and piling works for the new building are under way.
Source: Helical Interim Management Statement for the period 25th July 2016 to 26th September 2016