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Helical agrees £120m Farringdon Crossrail office deal

Helical has agreed a deal with Transport for London for a £120m over-station development at Farringdon’s new Crossrail station.

In a statement to the stock exchange, Helical confirmed an agreement had been reached for the office-led six-storey scheme, which will also include retail and restaurant units.

Planning permission has already been secured for the 90,000 sq ft project, with work set to begin in the next couple of months and completion scheduled for October 2019.

Helical property director Matthew Bonning-Snook said: “We are a great believer in the potential of the area given the significant impact of Crossrail and due to the wealth of cultural and public realm improvements that are planned and under way locally.

“Our adjacent office scheme overlooking Charterhouse Square, which is fully let, together with our Barts Square project, which delivers a new urban quarter to the City and Smithfield, further highlights this belief.”

Earlier this month Crossrail made changes to its delivery plan as part of a drive to reduce costs overruns and delays on the £14.8bn rail scheme.

This came after it was revealed in February that Crossrail’s construction was running 20 per cent over budget this financial year, although it was “still forecast to be delivered within its overall funding”.

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