Helical Bar plans major Charterhouse Square refurb

Grant Prior 9 years ago
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Helical Bar is planning a major refurbishment of an office block on London’s historic Charterhouse Square.

The developer has purchased a new long leasehold interest in 23 – 28 Charterhouse Square from the Governors of Sutton’s Hospital in Charterhouse (Charterhouse).

Current tenant Royal Bank of Scotland has surrendered its lease early with Helical paying £16m for the new 155 year lease while Charterhouse will benefit from a ground rent based on the rental income received.

Helical plans to carry out a major refurbishment of the existing 34,000 sq ft building which will see the floor area increased to 42,000 sq ft.

Royal Bank of Scotland will vacate the property at the end of this year, allowing Helical to start on site with a view to delivering the completed building in Q1 2017.

Charterhouse is planning a major upgrade to Charterhouse Square which is part of its plans for “Revealing the Charterhouse” to provide a visitor centre and museum to its own Grade I listed Charterhouse buildings.

Gerald Kaye, Director of Helical Bar, said: “This is another attractive refurbishment opportunity in the exciting EC1 area adjacent to the Farringdon East Crossrail Station and overlooking Charterhouse Square.

“We are very pleased to have secured this opportunity, which complements our activities at nearby Barts Square, and which plays strongly to Helical’s development skills.”

Charlie Hobson, Master of Charterhouse said: “Charterhouse is delighted to be working with Helical Bar and the refurbishment of this building will improve the area around Charterhouse Square for the benefit of our “Revealing the Charterhouse” project.”

 

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