Developer confident after general election results in 鈥渕ore stable鈥� political situation
The value of Helical Bar鈥檚 portfolio has broken through the 拢1bn barrier on the back of strong returns from its London portfolio.
The investment and development firm posted pre-tax profit of 拢87.4m in the year to March 2015, which represents the second-highest in its history.
The value of Helical鈥檚 London investment portfolio alone increased by 27% in the year to 拢370m. The group鈥檚 overall property portfolio value rose to 拢1,021m, up from 拢802m in 2014.
The firm鈥檚 current development programme comprises 1.2 million sq ft of schemes in London, including Barts Square, which has consent to redevelop 19 buildings to deliver 236 residential apartments and 211,000ft2 of office space and 116,000 sq ft The Bower at 207 Old Street.
Helical chief executive Michael Slade said: 鈥淲ith the general election behind us we can look forward with confidence to a more stable domestic political situation, which should help the UK economy to grow, and we anticipate providing shareholders with continued strong growth in the value of our business.鈥�
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