Helical lets final floor of 'The Tower' at Old Street
By Josh White
Date: Tuesday 14 Jan 2020
(Sharecast News) - London-focussed property developer Helical has let the final floor of 'The Tower' - the second phase of its Old Street scheme at The Bower, EC1 - taking the scheme to 100% let, it announced on Tuesday.
The London-listed firm Brilliant Basics - an Infosys Company and an existing occupier - has taken the 11,331 square foot 15th floor on a five-year lease, taking its total footprint to 40,479 square feet across four floors, as it continued to implement its UK scale-up strategy.
It said The Tower was let at an average contracted office rent of £73.55 per square foot to a "diverse range" of international businesses, all of which were said to be benefitting from the shared facilities at The Bower, which included "extensive" public realm, an internal café and meeting area, large bike store and shower rooms.
Brilliant Basics was described as a "global leader" in digital design and innovation.
Infosys acquired the company almost two years ago to expand its digital and innovation footprint across the Europe, Middle East and Africa geography.
Helical said Brilliant Basics was one of several fast growing, design and creative companies that had chosen to move into The Bower, which the board said demonstrated its broad occupier appeal.
"It's brilliant that we were able to conclude this letting on Christmas Eve, rounding off a very successful year of leasing activity for Helical," said senior investment executive Tom Anderson.
"The Bower is home to a fantastic community of businesses, making it an exciting environment in which to work.
"This is demonstrated by Brilliant Basics doubling their initial occupation from two floors to four within 12 months."
At 1202 GMT, shares in Helical were down 1.42% at 452p.
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