HELICAL BAR ARE PREFERRED BIDDERS FOR DAIRY CREST SITE
Helical Bar issued the following press release on 12 July 2002.
HELICAL BAR AND MORLEY SELECTED AS PREFERRED BIDDER FOR DAIRY CREST SITE IN
WOOD LANE, LONDON, W12
Helical Bar in partnership with Morley Fund Management has been selected by
Dairy Crest Group plc ("Dairy Crest"), the UK's premier chilled dairy foods
company, as the preferred bidder for Dairy Crest's 10.3 acre Westway site at
Wood Lane, London W12.
The site comprises a former milk processing and distribution plant which lies
south of the A40 (M) and adjacent to the White City Underground Station
(Central Line). The area is emerging as one of Central London's most
significant regeneration opportunities with the proposed 1.3 million sq ft
retail and leisure scheme to the south of the site and with the BBC proposing
a further 1.45 million sq ft of broadcasting and production space opposite.
In addition the area will benefit from major transport infrastructure changes
including a new station on the West London Line and Hammersmith & City Line,
new bus interchanges linking with the stations and the remodelling of
Shepherds Bush underground station.
Gerald Kaye, Development Director of Helical Bar, commented:
"Our selection as preferred bidder represents an extremely exciting
opportunity. West London has been identified in the Mayor of London's draft
London Plan as an opportunity area and the Dairy Crest site offers a rare
chance to develop a substantial high density office scheme in West London.
"We are also particularly pleased to be working again with Morley for whom we
are redeveloping 40 Berkeley Square, London, W1."
Richard Jones of Morley Fund Management commented:
"With the significant integrated transport interchange being developed so
close by, this development will be truly sustainable and we are sure it will
repeat our success at Paddington Central."
Insignia Richard Ellis are acting on behalf of Helical Bar and Morley Fund
Management and Dairy Crest are being represented by Knight Frank.
SALE OF DAIRY CREST SITE IN OCTOBER 2002
Dairy Crest issued the following press release on 3 October 2002
Dairy Crest announces sale of the Westway site, London, for an initial
consideration of £18m
Dairy Crest, the UK’s premier chilled dairy foods company, is pleased to
announce that it has today exchanged contracts to sell the 10.3 acre Westway
site at Wood Lane in London. The site comprises a former milk processing and
distribution plant vacated by Dairy Crest in January of this year.
The purchasers are CGNU Life Assurance Limited and Commercial Union Life
Assurance Company Limited and the approved developer is Helical Bar plc, a
leading listed UK property company.
Completion is due to take place this month. The consideration, on completion,
is £18m in cash, together with a possibly material overage payment which is
subject to receipt of satisfactory planning permission. The consideration
will be applied to reduce the group’s borrowings. The book value of the site
is £13.3m.