Helical, the London-focused property developer, has secured a letting of the 12th floor at The Bower in Old Street to Audio Network, a music production company. The deal, announced on 16 July 2026, adds to a growing list of occupiers at the mixed-use scheme, which combines office and retail space in the tech-centric Shoreditch area.
The Bower, developed by Helical in partnership with Transport for London, has attracted a range of tenants since its completion, including media and technology firms. Audio Network will join existing occupiers at the site, which offers views across the City and is close to transport links including Old Street and Moorgate stations. Helical has not disclosed the rental terms or the length of the lease, but the letting represents a vote of confidence in the London office market as hybrid working patterns continue to reshape demand.
Helical has been actively leasing space across its portfolio in recent months, with a focus on high-quality, sustainable buildings. The company reported a strong leasing performance in its last trading update, with occupancy rates holding steady despite broader economic uncertainty. Analysts note that well-located, modern offices with good amenities are outperforming older stock, a trend that benefits Helical's strategy of developing and refurbishing central London properties.
The deal comes as the UK commercial property sector shows signs of stabilising after a period of adjustment following the pandemic. Rents in prime London locations have held up better than in secondary markets, with companies seeking space that supports collaboration and employee wellbeing. For Audio Network, the move to The Bower provides a central London base with flexible floorplates and sustainability credentials, including an EPC A rating.
Helical's shares were trading flat on the day of the announcement, reflecting the relatively modest size of the letting relative to the company's overall portfolio. The FTSE 250-listed developer has a market capitalisation of around £400 million and owns a range of offices in the City and West End. Investors will be watching for further leasing updates, particularly at Helical's other major projects, including 25 Charter Street and 33 Foley Street.