Helical (LSE:HLCL), the London-focused office developer, said trading since 1 April has been strong, headlined by the letting of the 9,600 sq ft 12th floor at The Bower to Audio Network.
The letting takes total space let at The Bower in the period to about 32,000 sq ft, with re-gears agreed on a further 50,000 sq ft.
These transactions add £2.4m of contracted rental income, in line with March ERVs, extending The Bower's weighted average unexpired lease term to 6.4 years and lifting occupancy to 96.6%.
"It has been a strong start to the financial year as we continue to build upon our recent letting success at The Bower," said chief executive Matthew Bonning-Snook.
Two developments are on track to complete this year: the 128,000 sq ft Brettenham House redevelopment in September and the 142,000 sq ft 10 King William Street scheme in December, with Helical citing ongoing tenant discussions at both.
At Delta Paddington, the 240,000 sq ft scheme is under construction with Mace as main contractor and £220m of debt finance in place, targeting practical completion in the third quarter of 2028.
The Southwark student accommodation and residential scheme has been forward funded and forward sold respectively, leaving the joint venture exposed only to delivery risk, with Gateway 2 approval targeted this year ahead of a 2029/30 delivery.
Separately, in another statement, the property group announced the exchanged an agreement for lease with Audio Network for the 12th floor of The Tower at The Bower. The space totals 9,572 sq ft and will be occupied from November, once the landlord completes minor alterations to the fitted floor.
Audio Network, a global music licensing company serving broadcasters, brands and content creators, signed an 11-year lease with a tenant break at year six, priced in line with the March 2026 estimated rental value. The letting takes occupancy at The Bower to 96.6%.
Bonning-Snook added: "The strong leasing momentum we have experienced over the past year at the campus reflects the ongoing appeal of Old Street and the Silicon Roundabout, the historic heart of London's tech community."
Audio Network chief executive Robb Smith, meanwhile, added that the space "supports both creativity and collaboration" as the company continues its growth from the site.
