Mayfair property and development company Helical Bar reported a 7.9 per cent increase in the value of their properties today.
According to Property Week, its net asset value rose by £13.1 million compared to £68 million the year before.Chief Executive of the firm Mike Slade said, “In every market cycle, Helical has experienced a period during which it repositions its business to prepare for opportunities in forthcoming years”.
He continued, “It is no accident that half of our portfolio is made up of development and trading property rather than mainstream investment stock. Now is the time to be working up major projects, both in Central London offices and in large residential plays in West London, as well as keeping an eye open for attractive investment opportunities as and when they arise”.
The company recently bought nine assets, including 70,000 square foot of office space, for £50 million from ING Real Estate. This year alone it has invested a total of £120 million in property.