Chinachem Group to acquire Farringdon East from Helical for £159m.

Chinachem Group, a property developer based in Hong Kong, agreed to acquire Farringdon East, an owner of the long leasehold interest in Kaleidoscope, from Helical, a property investment and development company, for £159m. "Kaleidoscope was the first over station development to complete on the Elizabeth Line and we were able to attract one of the world's fastest growing tech businesses due to its striking design, highly accessible location, excellent amenities and strong environmental credentials. We will now seek to recycle the proceeds from the sale into delivering new highly sustainable 'best-in-class' Central London office schemes, where occupier demand remains strong," Matthew Bonning-Snook, Helical Property Director.