Helical Bar reports good progress in financial year to date

(ShareCast News) - Property developer Helical Bar has reported steady progress in the financial year to date, thanks to good progress in its London schemes.The London-listed company said it has acquired 46,500 square foot of lettings with an additional 47,500 square foot under offer as its C-Space and The Bower schemes in London from 1 April to 23 July.In a statement released on Friday, the group added it has made significant progress on sales at phase one of the residential arm of its Barts Square project and has sold 86 units for a combined £114m.In the period, Helical added an 80,000 square foot residential and retail project located in Covent Garden to its portfolio and has submitted a planning application for Charterhouse Square in London, with a decision expected within the end of 2015."We remain committed to increasing our investment in London and believe that continued economic growth will continue to provide opportunities for future income and capital appreciation for some time to come," said group chief executive Michael Slade.Meanwhile, the company has completed the acquisition of a portfolio comprising six logistic assets for £37.5m and has reached an agreement to sell eight logistics facilities to BMO Global Asset Management for £28.5m.Helical shares were up 0.22% to 422.94p at 1153 BST on Friday.