Helical agrees letting on two floors at The Bower

RNS Number : 0405I

Helical PLC

21 November 2018

 

21 November 2018

Helical Signs Design & Innovation Firm Brilliant Basics (An Infosys Company) For Two Floors At The Bower

- Tower now 63% let within ten weeks of practical completion -

Helical is pleased to announce a 19,576 sq ft letting comprising the 10^th and 11^th floors at The Tower, the second phase of its landmark Old Street scheme at The Bower, to Brilliant Basics, an Infosys Company. Brilliant Basics has agreed a 10 year lease on the space at a blended rent of £72 psf.

Brilliant Basics joins WeWork, the global provider of flexible, collaborative and shared workspaces and Farfetch, the online luxury fashion retail platform, which have taken floors one to six and seven to ten respectively. Altogether, 63% of The Tower office development is now let within just ten weeks of practical completion.

Brilliant Basics headquartered in Shoreditch, London is a global leader in Digital Design and Innovation. Infosys acquired the company almost 12 months ago to expand Infosys' digital and innovation footprint across Europe and this is commitment from Infosys to expand Brilliant Basics capabilities in the areas of digital strategy, design, user experience and emerging technologies.

Located directly next to Old Street roundabout and designed by renowned architects AHMM, The Tower provides 171,460 sq ft Grade-A office space, on seventeen levels, with two additional ground floor retail units, one of which has been let to Albion and East, the restaurant group behind upscale urban food and bar offerings, Canova Hall and Martello Hall.  It sits adjacent to The Warehouse which is fully let to a range of tenants including CBS, Stripe, Allegis, Pivotal and John Brown Media, as well as a full complement of high quality food and beverage operations including Bone Daddies, Enoteca de Luca and the Draft House. 

Gerald Kaye, Chief Executive of Helical plc, commented: "To be 63% let within 2.5 months of practical completion is testament to the outstanding design and quality of the scheme, as well as the enduring vibrancy of the location, particularly for creative businesses. We have good interest in the remaining floors."

Anand Verma, Founder and CEO of Brilliant Basics, an Infosys Company, commented: "We are delighted with the space and the opportunities it presents to scale our business both from people and products perspective. It's also worth noting that the speed we moved at to close this deal has been tremendous. We look forward to our new home in the heart of London's silicon alley."

In close proximity to the City of London, and on the edge of thriving Shoreditch, The Bower's modern aesthetic is fused with industrial features, aimed at creating a working space that caters for a variety of sectors, in keeping with the dynamic of the local area.

The remaining 63,000 sq ft of The Tower offers smartly designed interconnected floors for businesses looking for self-contained multiple level offices.  All tenants of the Tower will benefit from the shared facilities and amenities at The Bower, which include cafes, lounges, a bike store and shower rooms.

Helical were advised by JLL and Colliers. Infosys was advised by DeVono Cresa.

Further details on The Bower can be found at www.theboweroldst.com

For further information please contact:

Helical
Gerald Kaye/Tim Murphy	Tel: [phone]
FTI Consulting
Dido Laurimore/Tom Gough/Richard Gotla	Tel: [phone]

 

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