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Evening Standard
Evening Standard
Business
Daniel O'Boyle

Interest rate hikes trigger 10% writedown of Helical’s London office portfolio

London Central London

The value of London property developerHelical’s portfolio declined by 10.1% to £839.5 million, but CEO Gerald Kaye pointed out that still meant the company outperformed the average for the Central London market.

The developer, with properties including the JJ Mack Building in Farringdon, made a loss of £64.5 million, due to the writedown of its portfolio. But Kaye pointed out that the decline in value was lower than that experienced by many central London rivals.

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