Helical plc has reported a period of strong operational and development progress, underpinned by robust leasing activity and a growing pipeline of prime office and mixed-use schemes across central London.
In a trading update covering the period from October 2025 to April 2026, the developer highlighted continued momentum across its portfolio, particularly at The Bower in EC1 (pictured). A resurgence in demand from technology occupiers has translated into a series of lettings, including a circa 20,000 sq ft deal with AI platform incident.io, alongside a further 32,000 sq ft currently under offer. Additional lease regears across multiple floors are also progressing, with occupancy expected to rise to over 96% once transactions complete.
Across its development pipeline, Helical now has more than 700,000 sq ft of office space under construction. This includes the imminent completion of 100 New Bridge Street, EC4, a 194,500 sq ft refurbishment which has been forward sold to State Street Corporation for £333 million. The project is set to complete on programme and budget, delivering a return of equity to the business.
Further schemes nearing completion include Brettenham House in WC2 and 10 King William Street in EC4, both scheduled for delivery later this year. These projects are positioned to benefit from a supply-constrained prime office market, with early occupier interest already evident.
Helical’s pipeline is being strengthened through its joint venture with Places for London. At Southwark, SE1, a 429-bed purpose-built student accommodation scheme has been forward funded, significantly de-risking the project while targeting strong returns. Meanwhile, at Paddington, a 240,000 sq ft office scheme is progressing following site acquisition and the appointment of Mace as main contractor. The development is targeting high sustainability standards, including BREEAM Outstanding and NABERS 5.5-star ratings.
In Farringdon, the joint venture has also secured planning consent for a new 55,000 sq ft office building at 63 Charterhouse Street, further expanding the group’s central London pipeline.
Financially, Helical has strengthened its position through a £220 million development financing facility with PIMCO, supporting the delivery of the Paddington scheme and enhancing capital efficiency.
Overall, the update reflects a developer capitalising on improving occupier demand, particularly in the technology sector, while advancing a pipeline of high-quality, sustainable office assets in prime London locations.
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