Just another massive accomplishment for one of the most well established and high-quality real estate developer in the UK, the Helical plc, as they made lettings with another two gigantic companies in one of the many properties they have.
One Creechurch Place, a 273,000 sq ft skyscraper that is lying in the heart of the city of London, a financial and insurance district is the newly added home for Dell Corporation, a multinational computer technology company and Ernstar Group one of the leading specialty insurance company in the global market.
Dell will occupy a total of 22,357 sq ft across all of the first floor and some part of the second on a 10-year lease. While Ernstar has taken two floors with a total of 31, 958 sq ft on a 10-year lease as well.
This latest lettings is just another great attainment for Helical plc as it serves as a successor of the settings they’ve made when Hyperion by David Howden occupy 115,910 sq ft of all top six floors on a 15 year lease and Travelers, an American insurance company who fill the 15,969 sq ft of the third floor on a 10 year lease.
As the company continues to achieve its full potential on 69,659 sq ft remain to be let, around four and a half floors of the 17-storey building, that means 69% of the building is now occupied with further 5% offer.
Gerald Kaye, CEO of Helical, stated: “Securing these latest lettings is a fantastic achievement by all involved and demonstrates that, despite some initial impact following the EU referendum and ongoing Brexit negotiations, for the best-located and highest-quality office developments, the draw of London to global occupiers remains strong. Our vision at One Creechurch Place was to develop a sophisticated working environment that allows leading businesses to flourish. Situated adjacent to the new public realm and green spaces of Mitre Square and Aldgate Square, we are optimistic about letting the remaining space during 2018.”
In May 2014, Helical signed a joint venture agreement with HOOPP (Healthcare of Ontario Pension Plan) to redevelop the One Creechurch Place site. Under the terms of the joint venture, HOOPP and Helical jointly funded the project on a 90:10 split, with Helical acting as development manager.
BNP acted for Dell and Cushman & Wakefield for Enstar. Helical and HOOPP are advised by Savills, Cushman & Wakefield, JLL, and Ingleby Trice.