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Helical sold One King Street, in Hammersmith, West London, to Orchard Street Investment Management UK for £34.5M. The sale price is in line with the March 2016 book value.
Helical acquired the office building from receivers in 2012 and then launched an extensive refurbishment programme. The biggest improvement: an additional floor to the building, bringing the total leaseable area to 26k SF. The team also added new bathrooms with showers, feature lighting, reconfigured reception and air conditioning. The property is fully let and set a new benchmark for Hammersmith when the leases were signed.
Savills advised Orchard Street.
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