London-focused property investment and development firm Helical is selling half of a 194,000 square feet office redevelopment project for £55 million (€64.3 million) to a vehicle led by Orion Capital Managers.
Helical said it has agreed to partner Orion Capital to redevelop the 100 New Bridge Street, London EC4 building which is scheduled to be completed in March 2026.
The proceeds from the stake sale will be used to fund Helical’s ongoing development pipeline, the London-listed firm said.
Helical said the newly created partnership has also entered into a development financing arrangement with banking group NatWest to provide £50 million of a £155 million facility.
Source: realassets.ipe.com on the 20th of May, 2024
https://realassets.ipe.com/news/helical-sells-half-of-london-office-redevelopment-project-to-orion-for-55m/10073362.article