Helical (HLCL) Trading update summary

Trading and capital returns

• May 2026 sale of 100 New Bridge Street for £333m crystallised a £31m profit; ~£17m returned to shareholders via a £12m B Share Scheme and £5m buyback.

• B Share Scheme returned 9.72p per share with a 100-for-105 share consolidation; buyback acquired 2.55m shares at 196.33p average, a 44% discount to 351p EPRA NTA at 31 March 2026.

• FY26 final dividend of 1.00p took the total dividend for the year to 2.50p.

Development pipeline

• Brettenham House exchanged a 10-year lease with FGS Global for 23,887 sq ft, starting January 2027, with best-space rents above £140 psf; practical completion expected end-October.

• 10 King William Street, a 142,000 sq ft office development, remains on course for practical completion in December 2026; occupier discussions continue.

• Delta Paddington’s 240,000 sq ft construction programme is on schedule for Q3 2028 completion, supported by a £220m financing facility; design-stage BREEAM Outstanding score was 97.4%.

• Southwark’s 429-bed student accommodation and adjoining affordable housing are forward funded or sold, removing occupational and market risk; Gateway 2 approval expected in November would trigger £15.5m in cost reimbursement and first profit payment.

• 63 Charterhouse Street’s proposed ~55,000 sq ft office scheme continues through pre-development, including finalising the S106 agreement and securing operational approvals.

Investment portfolio

• The Bower completed or exchanged leases for 32,000 sq ft, adding £2.4m contracted rent; regears on 50,000 sq ft captured £0.3m of reversion.

• The Bower’s Warehouse floors 1 and 2 surrender secures rent through June 2027 and dilapidations; floor 1’s 19,744 sq ft is under offer ahead of refurbishment.

• The Loom completed a 3,504 sq ft letting; three units totalling 5,237 sq ft are under offer, which would reduce vacancy to 32.2%.

• The Loom achieved a 5.5-star NABERS certified rating in July 2026, the first UK building over 1,000 sq m to reach the milestone.