13th Jul 2020 13:23
Helical PLC - London-based property investor - Joint venture with property investment advisory firm AshbyCapital has secured a GBP140 million facility with Allianz to finance the office development of 33 Charterhouse Street. The development - targeted to complete in summer 2022 - is located near Farringdon station and has planning permission for the development of around 200,000 square feet of office space. Loan facility has a four-year term, with the option to extend to a fifth year. First drawdown is expected to be in the third quarter of 2020 from which point all future development costs will be fully funded by the facility. JV has exercised the option under the development agreement with the City of London to secure a new 150-year lease for the Charterhouse Street development.
Current stock price: 313.00 pence
Year-to-date change: down 32%
By Ife Taiwo; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Helical Bar