A joint venture with US firm Baupost has paid £55m for land and buildings at Bartholomew Close, Little Britain and Montague Street.

Gerald Kaye, Development Director of Helical, said: “This is an exciting scheme for the joint venture which will seek to create a brand new vibrant and dynamic City destination.

“A fully integrated mixed use development is planned, including a major new office building and high quality residential apartments, which will be complemented by a significant element of retail and leisure on the ground floor.”

The site is within minutes of the amenities and transport links of Farringdon, St Pauls and Cheapside as well as being adjacent to Smithfield with its eclectic mix of retail and leisure which will support our aspiration to create a new quarter within the heart of the City.”