Helical has reported strong AI-driven leasing activity and a growing pipeline of prime office developments for its central London portfolio in the first half of its financial year to April.
In a trading update for the period from October 2025 to April 2026, the developer said there had been strong progress across the business, with its development pipeline now totalling over 700,000 sq ft of office space in the capital.
This includes the imminent completion of 100 New Bridge Street, a 194,500 sq ft refurbishment forward sold to State Street Corporation for £333m , as well as a 240,000 sq ft development at Paddington that has now been financed and a main contractor signed.
The firm’s Brettenham House in WC2 and 10 King William Street in EC4 are scheduled for completion later this year and are positioned to benefit from a supply-constrained prime office market, with early occupier interest already evident, Helical said.
Leasing progress was made across the firm’s portfolio, with The Bower in Old Street, London securing a 20,000 sq ft letting of two floors to AI platform incident.io, while three further floors totalling 32,000 sq are now under offer and lease renewals have been arranged with occupiers on another five floors.
Helical said heads of terms had also been agreed for the third and 12th floor of the scheme’s Tower building, both around 10,000 sq ft, while an existing tenant has agreed for the vacant seventh floor of the scheme’s The Warehouse building.
Helical also revealed that its joint venture with Transport for London’s property company Places for London this week secured planning consent for a 55,000 sq ft office development in Farringdon, following the planning approval secured in February for a 429-unit, purpose-built student accommodation (PBSA) scheme in Southwark.
Chief executive Matthew Bonning-Snook said the firm’s office pipeline was “well positioned to take advantage of the strong rental growth being driven by a market with very tight supply”.
He added: “The period has seen further strong progress across our business, building on the significant momentum delivered in the first half of the year.”
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