Helical Bar has purchased a new leasehold interest in an historic building in east London which it plans to redevelop into office space.
Helical Bar has purchased a new leasehold interest in an historic building in east London which it plans to redevelop into office space.
Helical is paying £16 mln (€20 mln) for the new 155-year lease on the property which is located at 23-28 Charterhouse Square and is currently leased to Royal Bank of Scotland.
Helical plans to carry out a major refurbishment of the existing building, which currently comprises 34,000 sq ft (3,160 m2) and will be extended to 42,000 sq ft. Royal Bank of Scotland is due to vacate the property at the end of this year, allowing Helical to start on site with a view to delivering the completed building in the first quarter of 2017.
RBS was advised by DTZ on the surrender of the existing lease. Charterhouse was advised throughout by Ingleby Trice. Helical was unrepresented.
‘This is another attractive refurbishment opportunity in the exciting EC1 area adjacent to the Farringdon East Crossrail Station and overlooking Charterhouse Square,’ said Gerald Kaye, director of Helical Bar.
