Helical PLC HELICAL PRE-LETS A THIRD OF THE BOWER SECOND PHASE (0017Q)
November 24 2016 - 2:01AM
UK Regulatory
TIDMHLCL
RNS Number : 0017Q
Helical PLC
24 November 2016
24 November 2016
HELICAL PRE-LETS A THIRD OF THE BOWER SECOND PHASE TO WEWORK
Milestone letting cements The Bower as go-to Old Street
location
Helical, one of London's leading developers, is pleased to
announce a 59,000 sq ft pre-let, comprising levels one to six at
The Tower within The Bower development to WeWork, the global
provider of flexible, collaborative co-working space. The agreement
represents over a third of the total space available at the second
phase of The Bower, Helical's flagship mixed-use development in Old
Street.
Designed by renowned architects AHMM, The Tower is currently
under construction and will provide 171,200 sq ft of Grade-A office
space, on seventeen levels, with two additional ground floor retail
units totalling 7,200 sq ft. Due for completion in July 2018, it
sits adjacent to the completed first phase of development at The
Bower, 140,000 sq ft of prime office space which is fully let to a
range of tenants, including CBS, Stripe, Farfetch, Allegis, Pivotal
and John Brown Media, as well as a full complement of high quality
food and beverage operations including Bone Daddies, Enoteca de
Luca and the Draft House.
The Tower's modern design and strong location directly next to
Old Street roundabout is ideally suited to a company like WeWork
which is looking for flexible, spacious and well-connected premises
as it continues to expand its Tech City footprint. The Bower will
add to WeWork's portfolio of eleven currently operating locations,
as well as additional signed locations across London. The space at
the Bower will have the capacity for around 1,000 WeWork members,
and will expand WeWork's presence in Tech City, an area that has
been of high interest to WeWork members and potential members.
Gerald Kaye, Chief Executive of Helical plc, commented: "WeWork
is an incredibly dynamic and exciting organisation, whose concept
of shared working will ideally complement the new community we are
creating at The Bower. This pre-let is both a strong endorsement of
our capabilities in, and approach to, creating London's leading
places and spaces that people want to work in, as well as a wider
vote of confidence in London's ongoing appeal as a centre for both
corporate and creative businesses."
Patrick Nelson, Head of Real Estate for WeWork in Europe, added:
"We are delighted to add another prominent location to our London
portfolio and the design and quality of this building will help
deliver an exceptional experience to our members. We are very
pleased to have partnered with Helical to form a key part of The
Bower Estate community."
In close proximity to the City of London, and on the edge of
thriving Shoreditch, The Bower's modern aesthetic is fused with
industrial features, aimed at creating a working space that caters
for a variety of sectors, in keeping with the dynamic of the local
area.
The remaining 112,000 sq ft offers innovatively designed
interconnected floors for businesses looking for self-contained
multiple level offices. All tenants of the Tower will benefit from
the shared facilities and amenities at The Bower, which include
cafes, lounges, a bike store and shower rooms.
Helical were advised by JLL and Colliers.
Further details on The Bower can be found at
www.theboweroldst.com
For further information please contact:
Helical
Gerald Kaye/Tim Murphy Tel: 020 7629 0113
FTI Consulting
Dido Laurimore/Tom Tel: 020 3727 1000
Gough/Richard Gotla
This information is provided by RNS
The company news service from the London Stock Exchange
END
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