Helical and a vehicle managed by Orion Capital Managers have exchanged contracts for the forward sale of Helical Bicycle 3, the corporate entity that owns 100 New Bridge Street in London EC4, to an undisclosed S&P 500-listed global business for £333m (€395m).
The transaction, which represents a capital value of £18,427 per m² (€21,881/m²) and a capitalisation yield of 5%, will complete upon practical completion of the development in April 2026. The purchaser, which has net assets exceeding $10bn and holds A to AA category ratings across three agencies, is acquiring the property for their occupation. Helical's share of the sale price amounts to £166.5m (€197.5m).
The 18,116 m² office development is currently undergoing comprehensive refurbishment, being stripped back to its frame, reclad and extended with two additional floors. The completed 10-storey building will target the highest sustainability and technology credentials, including EPC A, BREEAM 'Outstanding', NABERS 5*, WELL Platinum and WiredScore Platinum. A standout feature will be an exceptional eighth-floor terrace spanning 692 m² offering views of St. Paul's Cathedral and across Central London.
Matthew Bonning-Snook, CEO of Helical plc, commented: "This transaction is a true reflection of the quality of 100 New Bridge Street as a London headquarters destination. The very strong interest we received in the scheme over a year ahead of completion is testament not only to its best-in-class characteristics, but also the acute shortage of prime office space within the submarkets Helical has targeted as part of its significant development programme."
Aref Lahham, Founding Partner and Managing Director of Orion Capital Managers, commented: "The sale of 100 New Bridge Street, following the leasing success of Panorama St Paul's, represents a further vindication of Orion's strategy to gain exposure to leasing risk in new best-in-class offices in the most in-demand locations across gateway cities in Europe. This transaction successfully capitalised on the intensifying occupier demand for the revitalised heart of the City of London amidst increasing supply constraints."
- Matthew Bonning-Snook, CEO, Helical plc
- Aref Lahham, Founding Partner and Managing Director, Orion Capital Managers
- Helical plc - UK property development and investment company
- Orion Capital Managers - European real estate investment firm
- Helical Bicycle 3 Limited - Corporate entity that owns 100 New Bridge Street
- Knight Frank - Real estate advisor to the sellers
- Ingleby Trice - Real estate advisor to the sellers
Get the latest real estate news and investment insights from Europe Real Estate - your trusted source since 1999. To receive daily or weekly updates. Sign up here!
