Helical plc has exchanged contracts on the sale of C-Space, its multi award-winning office scheme at 37-45 City Road, Shoreditch, London, EC1 to Meadow London Core-Plus Fund LP, for £74m reflecting a net initial yield of 4.6%.
HK London originally acted on the disposal of the freehold interest to Helical plc in 2013 and were retained as leasing advisor. A former carpet factory, the building was completely refurbished and the floor space increased from 50,000 sq ft to 63,500 sq ft. HK London and Savills pre-let 46,585 sq ft to MullenLowe and let the remaining space to NeuLion post completion before its subsequent disposal to Meadow Partners.
C-Space was winner of the Architects Journal Retrofit award for Offices over 2,000m² as well as winner of Commercial Building of the Year at the Schueco Excellence Awards in 2016. The scheme was also finalist in the 2016 BCO Awards as well as the 2016 RICS Awards for Commercial Building of the Year.