Helical PLC entered into a development contract with Transport for London in relation to the Over Station Development at London's Farringdon East Crossrail Station for an office-led scheme with a gross development value of more than £120 million.
The site, scheduled for construction after handover in April, comes with planning approval for a six-story office building spanning around 90,000 square feet. The property will include a retail/restaurant unit above the station.
A new 150-year lease will be granted upon transfer of the site, the U.K.-based developer said.
The scheme is slated for completion in October 2019.
JLL and Pilcher Hershman represented Helical in the deal, while Deloitte advised Transport for London.