Helical Bar Delays Government-Office ‘Campus’ Plan, FT Reports

Helical Bar Plc (HLCL), a U.K. real-estate developer, has put on hold a plan to create office campuses for public-sector bodies in which facilities, accommodation and services would be shared, the Financial Times reported.

The decision results from a government freeze on property moves by state organizations, the newspaper said.

The company formed a joint venture called Helical Governetz with former civil servants in 2007 after consultants recommended shifting employees out of London and out of buildings that were inefficient and poorly located, the FT said.

To contact the reporter on this story: Alan Purkiss in London on apurkiss@bloomberg.net.

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.

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