Following the grant of the new lease, Mace has been appointed as principal contractor.
Work is progressing on site, with all of the pre-existing structure now removed, the basement raft substantially poured and the core being built, currently up to the sixth floor.
The 200,000 sq ft office development is targeted for completion in September 2022.
12/10/2020 15:35 by Buildington
Helical has achieved the UK’s first BREEAM 2018 New Construction ‘Outstanding’ rating for the design stage of its 33 Charterhouse Street office development.
The development achieved an overall score of 89%, verified by independent assessor BRE Global, in accordance with BREEAM (Building Research Establishment Environmental Assessment Methodology), the world’s leading design and assessment method for sustainable buildings.
Working alongside RES Design, a leading London-based sustainability consultancy and part of the Long & Partners Group, the areas that the design excelled in are:
- Management and Technology, which are intrinsically linked with the sustainable running of the building through the integration of smart systems and occupier engagement through a building specific app;
- Site Ecology, through the delivery of initiatives to support native species, flora, fauna and invertebrates;
- Water Management, by implementing water conscious fixtures and looking at grey water and rainwater harvesting and attenuation;
- Pollution, with the aim to have no combustion of fossil fuels in the building.
Pavlos Clifton, Senior Development Executive at Helical, said: “Sustainability is at the core of Helical’s business, and this considerable achievement is the latest demonstration of how we are working collaboratively with best in class advisors to ensure that the buildings we own, manage and deliver are some of the most sustainable in the UK. The real estate industry has a duty to aspire to the very highest environmental standards when developing new buildings and we want to be at the forefront of this approach.”
Yasmina Mikhael, Head of Sustainability at RES Design, commented: “This has been an extremely rewarding project to date. This recognition is a result of both the engaged leadership at Helical and collaboration from the whole team, all of whom have shared in the ambition to create a landmark sustainable development.”
Helical announced the release of its Sustainability Strategy “Built for the Future” in June 2020, setting out the Company’s long-term vision encompassing “Our Environment, Our Communities and Our People”, which will enable the business to become truly sustainable.
Underpinning its focus areas, Helical has identified six key priorities which are driving its long-term vision for sustainability.
- Transition to a low carbon business;
- Buy, use and re-use resources efficiently;
- Bring social, economic and environmental benefits to the areas in which it operates;
- Design and operate its buildings to support health and wellbeing;
- Attract and retain the best people;
- Maintaining strong relationships with its business partners.
Helical believes that by integrating these priorities across its business, supply chain and its stakeholders, it will create long-term value and crucially, will ensure Helical is “Built for the Future”.
In recognition of the current climate change crisis and Helical’s commitment to transition to a low carbon business, the Company has set the following short to medium term targets:
- All new developments to be net zero carbon in operation by 2025;
- Reduce the embodied carbon in all new developments by 20% against the current RIBA benchmark;
- Reduce the operational carbon emissions of its existing portfolio by 25% by 2025.
25/08/2020 10:11 by Buildington
Helical and AshbyCapital have secured a £140m facility from Allianz to finance the 33 Charterhouse Street development. The facility has a four-year term, with the option to extend to the fifth year. It is anticipated that the first drawdown will be in Q3 2020, from which point all future development costs will be fully funded by the facility.
The building is targeted to complete in summer 2022.
In addition to agreeing to this new facility, the developers have exercised the option under the Development Agreement with The City of London to secure a new 150-year lease. The design and build contract with the principal contractor is expected to be signed shortly.
Tim Murphy, Finance Director of Helical, said: “We are pleased to have arranged this facility with Allianz, a new lender to Helical, particularly during the current uncertainty created by Covid-19. We look forward to working with them over the coming years as we set to work on delivering this exciting development opportunity.”
Charles-Etienne Lawrence, Investment Director at AshbyCapital, added: “Securing this facility is a testament to both the quality of our scheme and the strength of the sponsors. We are delighted to be partnering with Allianz and look forward to delivering a best-in-class building, which will contribute to the wider regeneration of the area.”
Roland Fuchs, Head of European Real Estate Finance for Allianz Real Estate, said: “We remain convinced that high-quality, future-thinking and best-connected office schemes in global cities such as London will continue to represent attractive financing opportunities for our investors. This, in combination with one of the most exciting submarkets in London and profoundly experienced project partners, amounted to an appealing debt investment story for Allianz.”
14/07/2020 11:24 by Buildington
The demolition and construction of the offices will continue as soon as the current restrictions are lifted by the Government and it is safe to do so, reports Helical in the latest trading update.
Planning consent has been obtained to enhance the ground floor configuration and to add an additional floor of 13,175 sq ft, such that the property will now provide c.200,000 sq ft of office accommodation over ground plus ten floors.
Source: Helical Bar Plc Half Year Results For the Six Months from 1st October 2019 www.helical.co.uk 1.04.2020
02/04/2020 18:42 by Buildington