Helical Bar has made a total profit of GBP62m from its development agreement with Aviva Investors for Brickfields, White City, and its asset management agreement with Little Britain Holdings (Jersey) Limited for 200 Aldersgate, London EC1.
This follows the completion of the sale of the site at White City to Imperial College and the sale of Little Britain Holdings (Jersey) Limited to clients of Ashby Capital.
Gerald Kaye, development director, says: “The high quality of the refurbishment and the success of the letting programme achieved at 200 Aldersgate is a great achievement for the team. We have repositioned the building as a vertical village that has attracted a diverse line-up of tenants and we have created a compelling investment opportunity going forward.”
Mike Slade, chief executive of Helical Bar, says: “Helical Bar has made extraordinary progress in the year to date and the crystallisation of the profit from White City and 200 Aldersgate marks a significant milestone for the group. These profits, combined with the proceeds from our successful retail bond, have provided a substantial war-chest for the group, funding our recent purchases totalling GBP120m, and clearly demonstrate the outstanding efforts of our team to create value for our shareholders.”