Great Portland Estates PLC ITN renews leases at Gray’s Inn Road
13 January 2025 - 6:00PM
RNS Regulatory News
RNS Number : 9638S
Great Portland Estates PLC
13 January 2025
13 January 2025
ITN
commits to 117,000 sq ft at 200 & 214 Gray's Inn Road,
WC1
Great Portland Estates plc (GPE)
announces that Independent Television News Limited (ITN) has
renewed both of its leases for 117,000 sq ft of workspace at 200
& 214 Gray's Inn Road, WC1, a 287,900 sq ft media hub building
owned by a 50:50 joint venture between GPE and Ropemaker Properties
(the property nominee of the BP Pension Fund). The contracted
annual rent will be £4.1 million (ahead of March 2024 ERV and
current passing rent) and will commence from March 2025 for a term
of ten years (with a break at year five).
ITN will continue to occupy around
40% of the total floor area across the two properties, where it
will maintain its production of news programming for ITV, Channel 4
and Channel 5.
200 Gray's Inn Road, a Foster +
Partners designed building, is currently undergoing a wholesale
repositioning, designed to deliver an exceptional customer
experience. The works, designed by Bennetts Associates, will
introduce a new 8th floor which will house a large west-facing roof
terrace, including a 1,400 sq ft pavilion; a feature staircase to enhance connectivity between the lower
floors of the building and an internal garden at the base of the
impressive atrium, all of which will greatly improve the amenity
for our customers.
Toby
Courtauld, Chief Executive, said: "We are delighted that ITN has renewed its leases at 200
Gray's Inn Road and committed to the building for a further 10
years. The new leases exemplify the confidence of our customers in
GPE's ability to deliver a complete upgrade and renewal of 200
Gray's Inn Road into a best in class workspace, meeting the needs
of our customers."
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Great Portland Estates
plc
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20
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7647
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3000
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Toby Courtauld, Chief
Executive
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Nick Sanderson, Chief Financial
& Operating Officer
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Stephen Burrows, Director of
Investor Relations and Joint Director of Finance
Laurie Low, Senior Portfolio
Manager
Yasemin Kiani, Communications
Lead
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FGS Global
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James Murgatroyd & Gordon
Simpson
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+44
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(0)
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20
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7251
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3801
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For further information see
www.gpe.co.uk or follow us on X at @GPE_london
LEI Number:
213800JMEDD2Q4N1MC42
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