Helical Bar has agreed to purchase from the joint venture with Crosstree Real Estate Partners LLP, the two completed office buildings (The Warehouse and The Studio), as well as The Tower, a major refurbishment opportunity. With Empire House sold to Standard Life and Crosstree acquiring the remaining asset, the retail parade, the joint venture will cease on completion of the transactions in January 2016. Helical will then own a mixed use estate with numerous exciting opportunities where Phase One of c. 151,000 sq ft is 92% let with the remaining space under offer, demonstrating its appeal to occupiers. Phase Two, the refurbishment of The Tower, will start in December 2015 and is due for completion Q4 2017.
Source: Helical Bar Half Year Results for the Six Months to 30 September 2015