Helical : Update on Portfolio Activity

Helical provides an update covering its activities for the period from 13 July 2017 to 3 October 2017, in advance of today's tour of its City and Tech Belt properties for analysts and investors.

Commenting on the Company's activities, Gerald Kaye, Chief Executive, said:

'We are pleased to report that we are close to concluding a number of lettings at our completed development at One Creechurch Place, EC3 and have placed further space under offer at 25 Charterhouse Square, EC1. We have seen rental growth at the London investment assets in our chosen locations where the demand for quality space from the tech and creative industries remains strong. We will shortly be seeking tenants for the remaining space at The Tower, comprising the second phase of The Bower, EC1, and are optimistic our target rents will be achieved.

'We continue working towards reducing our non-core holdings with the sale of further units from our retirement village portfolio whilst taking advantage of an offer from an owner-occupier to sell one of our industrial assets. In addition, where we have completed our business plans on assets and can deploy the proceeds elsewhere to generate superior returns, we will look to sell those assets.

'Whilst the political background continues to cause uncertainty we note the ongoing demand for UK assets from overseas investors, particularly from the Far East.'

LONDON PORTFOLIO

Our London portfolio provides rental income, opportunities for capital growth and development profits.

The Bower, Old Street, EC1

At The Bower:

· The Warehouse and The Studio are fully let with all tenants in occupation.

· Construction works on The Tower continue as planned with the cladding of the building underway and completion due in July 2018.

· The Tower is 34% pre-let to WeWork and marketing of the remaining floors will commence shortly.

Barts Square, EC1

At Barts Square:

· In the first phase of 144 residential units we have exchanged contracts on 127 units and are due to complete on the sales of the first 13 of these units by the end of October 2017. The remaining units are due for completion in phases between November 2017 and March 2018.

· Demolition of buildings to allow the last phase of residential has now completed with construction of 92 additional units due to start in Q2 2018.

· 90 Bartholomew Close, an office refurbishment of 23,508 sq ft, is due for completion in November 2017.

· The construction of One Bartholomew Close, a new 12 storey office building of c. 213,000 sq ft, pre-sold to clients of Ashby Capital, continues with completion due Q3 2018.

One Creechurch Place, City of London, EC3

At One Creechurch Place, EC3 terms are agreed with a number of potential tenants interested in leasing space in the 273,000 sq ft building and we are hopeful of being able to announce the letting of a significant proportion of the building before our half year results are released in November.

C-Space, 37-45 City Road, EC1

At C-Space, EC1 we have appointed agents to market the sale of this former carpet factory. The freehold building comprises 63,536 sq ft and is fully let to MullenLowe and NeuLion at an average rent of £57.42 psf with a WAULT of over 12 years.

The Loom, Whitechapel, E1

At The Loom, E1 we have recently let 3,500 sq ft at a record rent for the building of £55 psf. Currently, there is 18,000 sq ft of vacant refurbished space available in six units.

25 Charterhouse Square, Smithfield, EC1

At 25 Charterhouse Square, EC1 tenants Anomaly and Peakon are in occupation of the top three floors. We have also now agreed terms on the ground and first floor and have good interest in the remaining two floors of office space.

Power Road Studios, Chiswick, W4

At Power Road Studios, W4 we are due to complete the refurbishments of Studio 1 in early October. The project delivers 16,000 sq ft of fully refurbished air-conditioned Cat A space (2,425 sq ft of which is pre-let with a further 6,000 sq ft under offer), refurbished common parts and two new lift shafts to accommodate the consented future roof extension of 13,000 sq ft. In addition, preliminary works have been completed on a consented new 30,000 sq ft office building.

MANCHESTER OFFICES

Churchgate and Lee House remain 100% let. The focus this year has been on future asset management opportunities where we can agree re-gears with existing tenants and actively take un-refurbished space back from tenants to push rents past the current ERV of £16.50 psf.

The refurbishment of 35 Dale Street continues to make good progress with 22,500 sq ft of office space now completed. In June, we let 7,500 sq ft on the fifth floor at £18.00 psf, significantly above the March 2017 ERV of £13.80 psf.

LOGISTICS

Within our logistics portfolio we have sold, to an owner-occupier, our 188,000 sq ft warehouse at Hinckley, Leicestershire for its 31 March 2017 book value of £9.3m. The portfolio now consists of 24 assets, comprising 2.7m sq ft.

During the period we completed a new ten year lease at the existing passing rent at Telford and have strong interest from potential tenants in our only remaining vacant asset in Doncaster.

NON-CORE

Retirement Villages

At our retirement villages we have completed the refurbishment of the clubhouse at Bramshott Place, Liphook and have made good progress on the construction of new units. Of the 694 units to be built in the portfolio, we have completed works on 407 units, sold 328 and have a further 47 under offer.

ANALYST & INVESTOR PROPERTY TOUR

Helical plc is today hosting a tour for analysts and investors of selected properties from its City and Tech Belt portfolio.

A copy of the accompanying presentation will be available to view and download from the Company's websitewww.helical.co.uklater today. No further information will be provided on current trading.

For further information, please contact: