Helical has completed on the sales of 71 residential units (£86m) at Barts Square, with 59 further sales exchanged (£80m) and one additional unit under offer on the first phase of 144 units.
The sales in this phase total £166m at an average of £1,557 psf. Delivery of the remaining units is now expected in the period April to June 2018.
The second phase of residential, comprising 92 units, was launched on the 8 March 2018 and since then 22 units have been reserved for an aggregate £30.1m (£1,782 psf). This phase is due for completion by October 2019.
One Bartholomew Close, a new 12 storey office building of c. 213,000 sq ft, pre-sold to clients of Ashby Capital LLP, is due for completion by Q4 2018.
At 90 Bartholomew Close, our 24,000 sq ft office development, with 4,000 sq ft of ground floor restaurant space, was launched to the market on the 7 March 2018, and has generated a significant level of interest from potential tenants.
The main contractor at Barts Square, Carillion, which went into liquidation on the 15 January 2018, has been replaced by Mace (One Bartholomew Close), McLaren (phase 1 residential) and QOB (90 Bartholomew Close) and each element of the scheme is back fully operational. A main contractor for the second phase of residential is expected to be appointed in Q2 2018. Whilst there has been some delay to the project arising out of the replacement of Carillion, the majority of additional costs are expected to be covered by existing contingencies.
Source: Helical plc today presents a summary of its portfolio and a trading update covering its activities for the period 1 October 2017 to 28 March 2018 helical.co.uk