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Developer Takes 70,000 sq ft of Office Space in £50m Deal

Developer Takes 70,000 sq ft of Office Space in £50m Deal

Property investment and development company Helical Bar have added 70,000 sq ft of office space to their portfolio following as part of a £50m purchase from ING Real Estate Investment Management.

The office space that forms part of the deal is located in London, the South East and East and is the second major purchase by the company in the last 6 months – bringing their total spend to ┬ú120m.

According to the companyΓÇÖs website they are currently undertaking the role of development managers for a wide range of office space sites in and around Central London. These include the recently refurbished Clareville House in SW1 that provides 35,000 sq ft of prime office space and the 320,000 sq ft Man Group HQ and Riverbank House located in the City.

Chief Executive Mike Slade was quoted in Property Week as stating that this latest purchase of London office space may well be followed by additional purchases in the remainder of the year.

ΓÇ£We will continue to seek out opportunities which offer good value at this stage in the cycle, particularly properties which provide both strong income and considerable asset management opportunities.ΓÇ¥– Chief Executive, Mike Slade

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Author: | May 10, 2010 | 0 Comments

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