Helical signs two new tenants at One Creechurch Place development in London
Helical has agreed two new lettings, totalling 54,315 sq ft, at One Creechurch Place, its prime office scheme in the heart of London’s insurance district. The lettings are further evidence of the robust demand for Helical’s market-leading office developments from a diverse occupier base.
Dell Corporation, the computer technology provider, has taken 22,357 sq ft, across all of the first floor and part of the second, on a 10 year lease. Enstar, the global insurance group, has taken two floors, totalling 31,958 sq ft, also on a 10 year lease.
These latest lettings build on the success of late 2017 when Hyperion, the international insurance intermediary, took the top six floors totalling 115,910 sq ft, on a 15 year lease. Travelers, the American insurance company, agreed a 10 year lease on the third floor, totalling 15,969 sq ft.
Just four and a half floors of the 17 storey building, totalling 69,659 sq ft, remain to be let, meaning 69per cent of the building is now occupied with a further 5per cent under offer.
Gerald Kaye, CEO of Helical, says: “Securing these latest lettings is a fantastic achievement by all involved and demonstrates that, despite some initial impact following the EU referendum and ongoing Brexit negotiations, for the best-located and highest-quality office developments, the draw of London to global occupiers remains strong. Our vision at One Creechurch Place was to develop a sophisticated working environment that allows leading businesses to flourish. Situated adjacent to the new public realm and green spaces of Mitre Square and Aldgate Square, we are optimistic about letting the remaining space during 2018.”
In May 2014, Helical signed a joint venture agreement with HOOPP (Healthcare of Ontario Pension Plan) to redevelop the One Creechurch Place site. Under the terms of the joint venture, HOOPP and Helical jointly funded the project on a 90:10 split, with Helical acting as development manager.
BNP acted for Dell and Cushman & Wakefield for Enstar. Helical and HOOPP are advised by Savills, Cushman & Wakefield, JLL and Ingleby Trice.