London office space acquired by Helical Bar property developers for £50 million
Property developers Helical Bar have bought nine assets, including 70,000 square foot of office space, for £50 million from ING Real Estate.
Part of the office space is based in London with South Eastern areas benefiting from the sale as well. The deal also includes 550,00 square foot of industrial space.
Chief executive of the the property investment and development company Mike Slade said:“We will continue to seek out opportunities which offer good value at this stage in the cycle, particularly properties which provide both strong income and considerable asset management opportunities”.
This is the second big purchase by the company in the last six months, which has this year alone invested a total of £120 million in property.
The company is currently working on other office development projects. These include managing the 320,000 square foot Man Group headquarters at Riverbank House in the centre of London and the refurbishment of Clareville house in SW1, which is made up of 35,000 square foot of office space.
Its completed office developments number over 20 and include 40 Berkeley Square and 3 Bunhill Row in London as well as the Saunders Building at Hammersmith Row.