Helical returns about £17m to shareholders after £333m sale, trading update says
Helical's update for 1 April to 22 October 2026 also covers a Brettenham House letting to FGS Global and a Southwark Gateway 2 approval expected in November.
Helical has issued a trading update covering 1 April to 22 October 2026, ahead of half year results due on 25 November 2026. Chief executive Matthew Bonning-Snook said the period brought progress across the business.
The company completed the £333m sale of 100 New Bridge Street to State Street Corporation in May, which Helical says crystallised a £31m profit. It then returned about £17m to shareholders through a £12m B Share Scheme and a £5m share buyback.
The B Share Scheme paid 9.72p per existing ordinary share and came with a 100 for 105 share consolidation. The buyback acquired 2.55m shares at a weighted average of 196.33p, which Helical says is an average 44% discount to the 351p EPRA Net Tangible Asset value at 31 March 2026. The company also paid a final dividend of 1.00p, bringing the total for the year to 31 March 2026 to 2.50p.
At Brettenham House, WC2, Helical has exchanged an Agreement for Lease with FGS Global for 23,887 sq ft on the sixth, eighth and ninth floors. The 10-year lease starts in January 2027, with rents above £140 psf on the best space. Practical completion of the 128,000 sq ft building's refurbishment is expected at the end of October.
Helical says 10 King William Street, EC4, a 142,000 sq ft office building, is on course for practical completion in December 2026. Construction at Delta Paddington, W2, is on schedule for targeted completion in Q3 2028, with a Mace contract and a £220m development financing facility in place.
At the 429-bed student accommodation scheme in Southwark, Helical expects Gateway 2 approval in November. That would trigger reimbursement of its £5.3m costs and a first profit payment of £10.2m, a total of £15.5m.
At The Bower, EC1, Helical has completed one letting and exchanged two Agreements for Lease, totalling 32,000 sq ft and adding £2.4m of contracted rent. At The Loom, E1, it has let Unit 3.5 (3,504 sq ft) to Rivington Street Studios. It has also extended its £200m revolving credit facility to September 2029.
