Completion of 100 New Bridge Street acquisition
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
FOR IMMEDIATE RELEASE
1 March 2022
Helical plc ("Helical" or the "Company")
Completion of the acquisition of FPM 100 New Bridge Street Limited
Further to the results of the General Meeting announcement on 18 February 2022, Helical is pleased to announce the completion of the acquisition of the entire issued share capital of the Guernsey incorporated single asset company, FPM 100 New Bridge Street Limited (the "Acquisition"), that owns 100 New Bridge Street, London EC4, a 167,026 sq. ft office building with ground floor retail units. Total gross cash consideration of approximately £160 million has now been paid in respect of the Acquisition.
The building, which is held on a 999-year long leasehold at a peppercorn rent from National Rail Infrastructure Limited, was completed in 1992 and is currently let to international law firm Baker McKenzie, whose lease expires in December 2023. Helical proposes to carry out a major, sustainable refurbishment to create a new best-in-class Grade A office building and undertake significant public realm improvements around the site.
Unless otherwise defined, capitalised terms used in this announcement have the meanings given to them in the Class 1 circular dated 2 February 2022, which is available on the Company's website at https://www.helical.co.uk/investors/shareholder-information/agm/
Enquiries
Helical plc + 44 (0) 20 7629 0113
Gerald Kaye
Tim Murphy
Peel Hunt LLP + 44 (0) 20 7418 8900
(Sponsor)
Capel Irwin
Carl Gough
Henry Nicholls
Important Notice
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Disclaimer
Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for Helical and for no-one else in connection with the matters referred to in this announcement and will not be responsible to any person other than Helical for providing the protections afforded to clients of Peel Hunt, nor for providing advice in relation to the matters referred to herein. Neither Peel Hunt nor any of its affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Peel Hunt in connection with the matters referred to in this announcement, or otherwise.
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