Helical and Orion complete London office redevelopment

Helical and Orion Capital Managers have completed the redevelopment of 100 New Bridge Street, an 18,116 m2 office building in the City of London.

100 New Bridge Street, London

This project, designed by Gensler and built by Mace, features a new facade, an additional 2,787 m2 of space, and 899 m2 of terraces with views of St Paul's Cathedral.

The redevelopment prioritised sustainability, retaining 90% of the original structure and achieving an embodied carbon reduction of 61.4% below the GLA benchmark. The all-electric building has earned BREEAM Outstanding, NABERS 5*, and WELL Platinum certifications.

The property was forward-sold to State Street for £333 mln (€387 mln) in April 2025, of which Helical's share was €193.5 mln. This sale, reflecting a capital value of £1,712 per m2 (€1,990 per m2), is set to complete on 20 May 2026. The proceeds will be used to repay the £155 mln (€180 mln) development facility, with remaining funds distributed to the joint venture partners.

Matthew Bonning-Snook, CEO of Helical, commented: “This is a significant milestone for our best-in-class 100 New Bridge Street development, where we have reimagined the building as a high-quality, future-focused workplace that demonstrates the potential of existing assets to meet modern occupier expectations while supporting the City’s ambitions around sustainability and carbon reduction.”

Aref Lahham, founding partner and managing director of Orion Capital Managers, added:  “Completing 100 New Bridge Street brings to a close a highly successful partnership, where value has been created through repositioning and forward selling in a supply-constrained market. We invested on the basis that demand would concentrate around a limited pool of best-in-class space, and the outcome, including the forward sale to State Street, reflects that view.”