Helical and Orion complete 100 New Bridge Street
Summary by AI BETAClose X
14 May 2026
HELICAL PLC
("Helical" or the "Company")
HELICAL AND ORION ACHIEVE PRACTICAL COMPLETION OF PRIME CITY OFFICE SCHEME AT 100 NEW BRIDGE STREET
Helical plc and a vehicle managed by Orion Capital Managers have achieved practical completion of their 195,000 sq ft best-in-class, carbon friendly repositioning of 100 New Bridge Street, a landmark City of London office building located between Blackfriars and Farringdon Stations.
By retaining and upgrading much of the original structure, the Gensler-designed scheme, delivered by Mace, provides a blueprint as to how existing buildings can be reimagined, introducing a striking new façade, 30,000 sq ft of additional NIA, and 9,690 sq ft of terracing across four floors, offering magnificent views of St Paul's Cathedral and across Central London.
Sustainability is embedded in every aspect of the project; with 90% of the structure retained, and materials re-used, re-purposed and donated, the comprehensive redevelopment's embodied carbon is tracking 61.4% below the GLA benchmark for offices. The all-electric building scheme has delivered high environmental and well-being standards including BREEAM Outstanding, NABERS 5* and WELL Platinum.
Following the April 2025 announcement, the forward sale of the property to State Street for their own occupation, at a net price of £333 million (Helical share: £166.5 million), is scheduled to complete on 20 May 2026, reflecting a capital value of £1,712 psf (c. £2,000 psf on a topped up basis) based on a capitalisation yield of 5%, after deducting corporate sales costs and a notional rent free. The proceeds of the disposal will be used to repay the amount drawn under the £155 million development facility, with surplus funds paid out to each joint venture partner in accordance with the terms of the joint venture agreement signed in May 2024.
Matthew Bonning-Snook, Chief Executive Officer of Helical, commented: "This is a significant milestone for our best-in-class 100 New Bridge Street development, where we have reimagined the building as a high-quality, future-focused workplace that demonstrates the potential of existing assets to meet modern occupier expectations while supporting the City's ambitions around sustainability and carbon reduction. Completing the sale to State Street will unlock significant returns to our investors, as we continue to deliver highly sought after real estate into supply constrained sub markets."
Aref Lahham, Founding Partner and Managing Director of Orion Capital Managers, added: "Completing 100 New Bridge Street brings to a close a highly successful partnership, where value has been created through repositioning and forward selling in a supply constrained market. We invested on the basis that demand would concentrate around a limited pool of best-in-class space, and the outcome, including the forward sale to State Street, reflects that view. It reinforces our focus on opportunities where we can combine clear underlying demand drivers with superior asset-level execution."
For further information, please contact:
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Helical plc |
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Matthew Bonning-Snook (CEO) James Moss (CFO) |
Address: Website: Tel: |
22 Ganton Street, London, W1F 7FD 020 7629 0113
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FTI Consulting |
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Dido Laurimore Richard Gotla Andrew Davis |
Email: Tel: |
020 3727 1000
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Orion Capital Managers Via Montfort Communications Aaron Bass Lara Archer |
Email: Tel: |
07800 666 380
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