Hammersmith sale for Helical

one-king-street_2-1-682x682Helical has sold One King Street, in Hammersmith, to Orchard Street Investment Management UK for £34.5m.

Helical acquired the office building from receivers in 2012 and since then has undertaken a rolling refurbishment of the office space and added an additional floor to the building to deliver 26,000 sq ft of offices with retail units on the ground floor. The property is fully let to a range of tenants at rental levels that, say Helical, set a new benchmark for the Hammersmith market at the time of leasing.

Tom Anderson, Senior Investment Executive at Helical commented; “Having delivered on our business plan to provide a good quality institutional grade investment, this had now become one of our more mature investments and we therefore took the opportunity to make this disposal, the proceeds of which will be recycled into our London development and refurbishment programme.”

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