Helical Secures £125 Million Financing for 10 King William Street Development
Why we think this is good
The RNS announcement indicates that Helical has secured a significant development financing facility from HSBC and signed a construction contract with a reputable firm, McLaren. This suggests the company is making progress on a major project that could enhance its portfolio and reputation. However, the lack of financial details and the long timeline to completion temper the overall positive sentiment.
Key Points
- Helical secures £125 million development financing from HSBC
- Signed construction contract with McLaren for 10 King William Street project
- 10 King William Street is a joint venture with Places for London
- Development to deliver 139,000 sq ft of office space with high ESG credentials
Summary
Helical plc has entered into a £125 million development financing arrangement with HSBC to fund the construction of the 10 King William Street office scheme in London. Simultaneously, the company has signed a building contract with McLaren, with construction work already underway and the building scheduled to complete in December 2026.
The 10 King William Street development is a joint venture between Helical and Places for London, the TfL property company. The development will deliver 139,000 sq ft of office space, with additional retail and amenity space, targeting the highest ESG credentials including BREEAM Outstanding, NABERS 5* and WELL Platinum.