Helical Bar Buys UK Asset
Helical Bar has acquired a 3,250-square-metre UK office property from Joint Fixed Receivers for £14.1 million (€16.7 million).
Broadway House is a multi-let property with groundfloor retail and four floors of office above, located at 1/15 King Street, Hammersmith. Retail tenants include Dolland & Aitchison, Lloyds TSB, Café Nero and Ladbrokes, and office tenants include Kaplan Financial Ltd and Pakistan Airways. The building also has two vacant floors of office space, which Helical Bar plans to refurbish and lease out.
“There is currently a shortage of high-quality office space in Hammersmith, so we will immediately start to comprehensively refurbish the second and third floors,” says Tom Anderson, asset management executive at Helical Bar. “In the meantime, the retail rents are reversionary, ensuring that there is scope to increase our income at rent review and lease renewal.”