Helical agrees 20,000 sq ft letting at The Bower
Helical PLC has exchanged contracts for a lease of 19,628 sq ft at The Bower, its mixed-use campus in London, to incident.io, an AI platform. This letting, which is in line with current estimated rental values, reduces available space by one-third and increases overall occupancy to 87%. The company is also progressing negotiations on remaining vacant space and existing occupier re-gears, with further updates anticipated soon, indicating positive momentum in its property portfolio.
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-Transaction reduces available space at the scheme - located in London's leading ecosystem for technology companies - by a third-
Helical plc announces that it has exchanged contracts to lease 19,628 sq ft of fitted space at The Bower, its award-winning mixed-use campus on Old Street in London, EC1.
incident.io, the all-in-one AI platform for on-call, incident response, and status pages - built for fast-moving teams like Netflix, Etsy, and Lovable - is due to move to Levels 5 & 6 of The Tower in June this year.
The letting, which is in line with current ERVs, represents a third of the available space at the campus and increases total occupancy at The Bower to 87%. With negotiations progressing on the remaining vacant space, as well as with existing occupiers around a number of re-gears, further updates are expected in the near future.
Benefitting from a unique combination of excellent transport connectivity, access to talent and record venture capital funding levels and competitive occupancy costs, Old Street has established itself as London's premier technology and innovation district, home to more than 50 leading technology occupiers.
Matthew Bonning-Snook, Chief Executive Officer of Helical, said: "incident.io join our roster of leading technology occupiers at The Bower, where we have seen a considerable uptick in interest for the remaining space, particularly from the tech community deploying AI in their products. Such companies recognise the attraction of well-connected campuses which allow clustering to leverage agglomeration effects, future growth potential and a vibrant creative culture."
JLL and Compton acted for Helical and Making Moves acted for incident.io
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.