Helical (LSE:HLCL) reports that trading from 1 October 2025 to 21 April has shown “further strong progress across our business, building on the significant momentum delivered in the first half of the year,” Matthew Bonning‑Snook, Chief Executive, said.
The update highlights lettings at The Bower, EC1, including a c.20,000 sq ft lease of two floors to AI platform incident.io and heads of terms on a further c.32,000 sq ft; upon completion of agreed deals occupancy would rise to 96.6%. Rents on these transactions are in line with current ERVs and exchanges are anticipated in May.
On developments, 100 New Bridge Street, EC4 (194,500 sq ft) is expected to practical complete this month and be handed to State Street Corporation, completing a £333m forward sale (Helical share: £166.5m). Helical now has four office schemes totalling over 700,000 sq ft under construction, with Brettenham House due Q3 2026 and 10 King William Street practical completion targeted for December 2026.
The group has de‑risked Southwark, SE1 through a Places for London forward funding and affordable housing forward sale and secured a £220m development facility from PIMCO Prime Real Estate to fund Paddington (Helical share: £28.1m acquisition), with milestone‑linked margin step‑downs and a one‑year extension option.
Helical will publish full‑year results on Friday 22 May.
