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Helical Bar: Recovery in property values stalling

Property developer Helical Bar said the recent strong recovery in property values has stalled.

The firm, which invests in property across the UK and in various sectors, said there are still opportunities for investment, but this is mainly in the London market.

Helical Bar chief executive Michael Slade said: “Whilst the outlook for commercial property remains uncertain, we believe that now is the right time to selectively progress our development pipeline, especially in central London offices and larger residential projects, where we expect to see outperformance.”

It has progressed plans for a development at Mitre Square in the City.The site was acquired from the City of London and Ansbacher and a planning application for a new high quality office building of 25,000 sq m has been submitted.

It gave no further update on the value of its portfolio or the extent to which increases in property values have slowed.