Helical secures Incubeta as latest tenant of Old Street scheme

London-focussed property developer Helical has secured multinational marketing group Incubeta as its latest occupier at its Old Street scheme ‘The Tower’, EC1, it announced on Wednesday.

The London-listed firm said it had now let more than 75% of The Tower's second phase office building, to a “diverse range” of national and international businesses.

It said that, as part of its global expansion strategy, Incubeta would bring its three specialist brands together under one roof, taking the entire 16th floor on a long-term lease.

The rent achieved was in line with the March 2019 estimated recovery value, and was said to be consistent with other lettings on comparable floors.

Helical had previously signed Finablr, the owner of Travelex and UAE Exchange, to the 17th floor at The Tower, alongside Infosys division Brilliant Basics to the 10th and 11th floors.

It said online luxury fashion retail platform Farfetch and flexible office space company WeWork occupied floors seven to nine and one to six respectively.

Four of the 17 floors in The Tower remained available to let.

“As a fast growing independent group that is rethinking the rules of marketing, we are excited that Incubeta has chosen to be part of The Tower's increasingly sought after dynamic and enterprising community,” said Helical senior investment executive Tom Anderson.

“This letting is further evidence that progressive businesses understand the value that exemplary design and best-in-class buildings can add to their brand and future success.

“We have a handful of floors remaining with some strong interest and are hopeful of announcing more new lettings soon.”