Developer’s shhre of £333m proceeds to be £166.5m

Helical is set to complete the sale of its 100 New Bridge Street scheme to US bank State Street next week after Mace reached practical completion on the job.

The sale to State Street. which is due to move from its current address at Canary Wharf to its new home next year, was conditional on the £100m retrofit job in the City getting to PC.

The scheme, which is around the corner from City Thameslink station and a stone’s throw away from Blackfriars station, has been developed by Helical in joint venture with Orion Capital Managers.

100 nbs

Mace has now reached PC on 100 New Bridge Street triggering the sale of the building to new occupier State Street

In an update this morning, Helical said the disposal would complete next Wednesday with its share of the £333m sale being £166.5m.

The 10-storey block has been stripped back to its frame, reclad and had two extra floors added.

Gensler is architect on the current scheme with the original building designed by RHWL and completed in 1992.

Others working on the job have included project manager Avison Young, QS Arcadis, structures consultant Waterman and M&E engineer Long and Partners.

Several firms are pricing the £60m fit-out work at the site with Overbury considered favourite for the job, Building understands. Others bidding the scheme include Structure Tone and Mace.

The building was previously occupied by law firm Baker McKenzie which moved out in 2023.

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