Developer Helical Bar moved back into the black today and is poised to fire the starting gun on a £1.5 billion housing scheme at White City in west London.
The firm is ready to submit a planning application for 1200 flats on the site of a former Dairy Crest plant next to the Tube station, which will also include offices and retail.
Director Matthew Bonning-Snook said building work could begin as soon as the end of next year and will form part of the regeneration of the area.
Australian retail giant Westfield has planning permission for the extension of its shopping centre and Imperial College is building a new campus nearby.
Helical posted pre-tax profits of £7.4 million in the year to March 31 — as opposed to a £6.3 million loss the previous year — as the firm enjoyed a 29% rise in rents.
The developer is steering its portfolio towards income-producing buildings.
The business has also decided to focus on London and the South-East, an area which accounts for nearly half of its portfolio.
*Hammerson is said to be in advanced talks with Tony Pidgley’s Berkeley Group over selling part of its Principal Place development on the fringes of the City.
Berkeley is reportedly interested in the 243-apartment tower to be built next to a new 16-storey office block on the site.
