Helical has now let six office units in the year at a c.4.3% premium to 31 March 2019 ERVs, along with the café. The building is 96% let with four units currently vacant, of which one is under offer. Since acquisition in 2013, Helical has extensively refurbished 92% of all the units. They are currently assessing further asset management opportunities to reconfigure units to offer larger floorplates to complement the existing mix.
Via Helical plc Annual Results for the Year to 31st March 2020.
04/06/2020 12:16 by Buildington
Helical has let three units since 1st October 2019 at £55.00 psf which represents a c.4.6% premium to 31 March 2019 ERVs. The building is 96% let with four units currently vacant, of which one is under offer. Helical is currently assessing further asset management opportunities to reconfigure units to offer larger floorplates to complement the existing mix.
Source: Helical Bar Plc Half Year Results For the Six Months from 1st October 2019 www.helical.co.uk
02/04/2020 18:15 by Buildington
Two new lettings have been agreed across five units at The Loom, totalling over 20,000 sq ft, reports Helical.
6,400 sq ft has been let to The Fairtrade Foundation, the UK based charity committed to improving trading conditions and empowering producers to combat poverty in the developing world.
Hey Habito, an existing tenant at The Loom, has signed new leases on 13,600 sq ft within the building across four units. Hey Habito is a leading online mortgage broker and has grown considerably since moving into 3,600 sq ft of The Loom in October 2016. All the rents achieved were either at or above March 2018 ERV.
The Loom is one of London’s few remaining Victorian wool warehouses and is multi-let to 36 tenants from a range of industries. Helical completed a full refurbishment of the 110,000 sq ft building in 2016 including a new entrance onto Gower’s Walk, an enhanced reception and communal area and new shower and cycle facilities. There are 47 office units providing between 1,000 sq ft to 9,500 sq ft of characterful workspace and following the recent lettings the building is now 93% let.
Tom Anderson, Senior Investment Executive at Helical, commented: “These two recent lettings highlight the ever-increasing demand for high-quality space within the City Fringe from a variety of occupiers and is further evidence of the success of Helical’s strategy of investing in design led, multi-let offices and offering flexible lease terms which allow tenants to grow within our buildings.”
Fiona Kindness, Chief Financial Officer at the Fairtrade Foundation, added: “We are really excited to be joining The Loom community. As a charity, we were looking for space that was good value but equally somewhere that our team would be excited to work in – The Loom absolutely provides that balance.”
Garreth Griffith, Chief of Staff at Habito, added: “We are delighted to be upsizing once again within The Loom as it offers us the creative space that our growing number of employees want. Helical has provided us with the flexibility in the lease length and area size that we need as an expanding tech business, and we are very happy to call it home.”
Helical was advised by Colliers International and Hall Kemp. The Fairtrade Foundation was represented by Monmouth Dean and Hey Habito was advised by DeVono Cresa.
30/05/2018 17:43 by Buildington
Helical completed four new lettings at The Loom in December 2017 totalling 9,385 sq ft, all at rents at or above September 2017 ERV and have recently let 1,830 sq ft of newly refurbished space at its ERV of £52.50 psf to a digital marketing creator. Of the remaining 12,120 sq ft of available space, 6,400 sq ft is under offer at ERV.
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
29/03/2018 15:57 by Buildington
The Loom by Duggan Morris Architects has been shortlisted for the RIBA London Regional Award 2017!
Visit www.architecture.com/riba to find out more about the awards.
06/04/2017 08:41 by Buildington
Tribe Marketing has taken 5,700 sq ft of space at The LOOM on a five-year lease. Helical has let over 30,000 sq ft here in 2016.
19/12/2016 12:20 by Buildington
Two further lettings have been signed at The Loom, reports Helical.
Hey Habito, an online mortgage broker and Twelve Fifty One Communications, a business consultancy have taken a total of 4,750 sq ft in two separate units on the first and second floors.
Both have agreed 5 year leases and a rent of £52.50 psf, a 17% premium to March 16 ERV. The news follows the announcement that Helical has let the remaining 15,387 sq ft at C Space, its award-winning Shoreditch office scheme.
Helical completed a major repositioning of The Loom in September. The refurbishment included a new entrance and reception on to Gowers Walk, an onsite café/bar operated by cult brand Look Mum No Hands!, showers and a bike store.
The building has achieved Wired Certified Gold, putting it in the top bracket in terms of broadband and telecoms infrastructure in the UK. Helical has a further 29,000 sq ft of exceptional refurbished space currently available in units ranging from 1,100 sq ft to 8,400 sq ft.
Commenting, Tom Anderson, Senior Investment Executive at Helical said: “Following an incredibly successful launch it is great to be welcoming two more businesses to The Loom, attracted by its high-quality exciting space, strong location and outstanding connectivity. We have a number of discussions ongoing and are hopeful of announcing more new arrivals soon.”
Hall Kemp and Colliers act for Helical. DeVono Cresa acted for Hey Habito and The Workplace Company acted for Twelve Fifty One Communications.
Further details can be found at www.theloom-e1.com.
09/11/2016 16:39 by Buildington
The main refurbishment works at The Loom completed in August 2016 with c. 58,000 sq ft of a total 110,000 sq ft comprehensively refurbished since acquisition together with all essential plant, equipment and common parts.
Average contracted rent at the building is c. £31 psf with highest rent achieved of £54 psf. 32,500 sq ft is currently available, with 4,750 sq ft under offer.
Source: Helical Interim Management Statement for the period 25th July 2016 to 26th September 2016
27/09/2016 17:49 by Buildington
The Loom is nearing completion, with an official opening date set for September 2016, reports Duggan Morris Architects.
13/07/2016 17:44 by Buildington