Helical Bar sells Network Rail building for 拢43m

By Louise Dransfield2015-10-15T07:54:00+01:00

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Helical Bar has sold Network Rail鈥檚 Enterprise House building in Paddington for 拢43m to an overseas investor

Property investor and developer Helical Bar has sold Enterprise House in Paddington, London, to a private overseas buyer for 拢43m.

The 45,000 sq ft Art Deco Network Rail office was acquired in 2013 by Helical Bar in a 20 year sale and leaseback transaction with Network Rail.

Helical Bar said the sale proceeds will be used to repay debt of 拢30m, with the balance retained for investment in its portfolio.

Helical Bar鈥檚 Investment Director Duncan Walker said:鈥� This disposal enables us to capitalise on the strong London market, freeing up capital to deploy into our other London opportunities which will benefit from Helical鈥檚 expertise in extracting latent value through development, refurbishment and asset management.鈥�

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