Helical teams up with Orion for City office scheme

Helical has formed a joint venture to redevelop a City of London office, selling half of the asset to Orion Capital Managers for £55m. The pair will refurbish 100 New Bridge Street, EC4, with new cladding and two new floors. The project will give the 1990s block 191,065 sq ft of office space on the first to 10th floors and 3,592 sq ft of retail on the ground floor.  The scheme is backed with £155m of development financing, including £50m from NatWest. Completion is due in March 2026. Helical chief executive Gerald Kaye said: “We are pleased to be partnering with Orion Capital Managers on the development of this best-in-class, carbon-friendly new building, to be completed in Q1 2026 when we anticipate there will be a critical shortage of top quality office space in the City.” Aref Lahham, managing partner at Orion, added: “We continue to believe that there is a window of opportunity in bringing best-in-class, green office space to the city market to capture the pressing tenant demand while supply remains constrained.” Helical was advised by Knight Frank and Clifford Chance. Orion was advised by A&O Sherman. Image from City of London Corporation