Helical PLC Helical Secures Farringdon East Crossrail Scheme (8423I)
March 26 2018 - 2:00AM
UK Regulatory
TIDMHLCL
RNS Number : 8423I
Helical PLC
26 March 2018
26(th) March 2018
HELICAL PLC
('Helical'/ 'the Company')
Helical Secures Farringdon East Crossrail Development
Helical plc has exchanged a development agreement with Transport
for London ('TfL') with respect to the Over Station Development at
the Farringdon East Crossrail Station which will lead to the
creation of an office-led scheme with a gross development value of
over GBP120m.
A new 150 year lease is to be granted on handover of the site
which is due in April 2018 shortly after which construction is
expected to begin. The site has planning permission for a PLP
designed six storey office building of c 90,000 sq ft,
incorporating a retail/restaurant unit on the corner of Lindsay
Street and Charterhouse Street, all above the Farringdon East
Crossrail Station.
The building will sit immediately to the east of Smithfield
Market with views over Charterhouse Square and it also benefits
from an extensive roof terrace with views towards St Paul's
Cathedral. Completion of the scheme is expected in October
2019.
Farringdon East Crossrail Station is due to be operational in
December 2018 and will make Farringdon one of the biggest transport
interchanges in Britain with 140 trains per hour. Farringdon will
be the only station from which passengers will be able to access
all three rail networks - Crossrail, Thameslink and the London
Underground - and is expected to receive 27 million passengers a
year. The Elizabeth Line will provide access to Bond Street in four
minutes, Paddington in seven minutes, Canary Wharf in eight minutes
and Heathrow in 31 minutes.
Matthew Bonning-Snook, Property Director at Helical, commented:
"We are a great believer in the potential of the area given the
significant impact of Crossrail and due to the wealth of cultural
and public realm improvements that are planned and underway
locally. Our adjacent office scheme overlooking Charterhouse
Square, which is fully let, together with our Barts Square project
which delivers a new urban quarter to the City and Smithfield,
further highlights this belief."
"We will deliver a stunning statement building enlivened by
fine-scaled elevations inspired by the 19th century warehouses that
frame the historic Smithfield Market. The external treatment of the
building is sympathetic to its surroundings and reflects the colour
palette of the architecture in the area, including vertical
terracotta fins which will provide a different reading to each
elevation dependent on the direction from which the building is
viewed."
Graeme Craig, Director of Commercial Development at TfL, said
"The Elizabeth line is set to redefine travel across our city and
it is fantastic to see the sites above some of the major central
London stations progressing. They will deliver much needed homes,
office and commercial space and have been planned as an integral
part of the development of the new railway, supporting new jobs and
driving economic growth."
JLL and Pilcher Hershman acted on behalf of Helical and TfL was
advised by Deloitte.
For further information please contact:
Helical
Matthew Bonning-Snook Tel: 020 7629 0113
/Tim Murphy
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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