Helical Bar’s business has been driven by London development, according to the firm’s second-quarter statement.
The company highlighted the successful letting of more than 46,500 sq ft of space and another 47,500 of space under offer across its assets at C-Space, EC1, and The Bower, EC1.
The company also said there was good progress on the sale of the residential elements in Barts Square, EC1. Here the company has now sold 86 homes, generating £114m, with a further six homes reserved adding £5m. The development has another 53 units still to sell.
Plans have been submitted for the development of 23-28 Charterhouse Square, EC1, with a decision due in the final quarter of the year.
Helical will also be bringing forward a development in Covent Garden, WC2, which it is running in joint venture with site owner Savills.
Helical’s retirement home projects generated £6.3m of proceeds from 14 sales and another three of the total of 38 homes are under offer.
It disposed of eight industrial units for a total of £28.5m, which the company said was 6% above book value.
Helical also completed its exit from the Polish market in the quarter, selling retail developments at Europa Centralina, Gliwice and Wroclaw.
Additions to the business were £47m in industrial assets at an average 7.6% yield and there are a further £33m of assets under offer.
The company’s portfolio stood at more than £1bn at the end of March, with a net asset value at the time of 385p per share.
The current trading price of the company, as of 24 July, is 425p.
