UK real estate firm Helical and a fund managed by Orion Capital Managers have announced the sale of a £333m (€382.3m) London office property to an unnamed global business listed on the S&P 500.
IPE Real Assets, however, understands that State Street is the buyer of the 100 New Bridge Street building.
Helical and Orion Capital have agreed to a forward sale of Helical Bicycle 3, the company that owns the 10-storey building in EC4, with the disposal expected to be finalised once the building is completed in April 2026.
The building is being refurbished and will deliver 195,000sqft of office space.
Helical’s share of the sale price is £166.5m. On completion of the sale, an amount drawn under a £155m development facility will be repaid.
Matthew Bonning-Snook, CEO of Helical, said: “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, said: “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.”
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