Great Portland Estates PLC Continued leasing successes at 30 Broadwick Street (8133A)
29 March 2017 - 5:01PM
UK Regulatory
TIDMGPOR
RNS Number : 8133A
Great Portland Estates PLC
29 March 2017
29 March 2017
GPE announces continued leasing successes at 30 Broadwick
Street, W1
Great Portland Estates plc ("GPE") announces a further 15,725
sq. ft. of lettings at its recently completed development at 30
Broadwick Street, W1. These lettings will generate a combined
annual rent of GBP1.2 million on average 9.9% ahead of March 2016
ERV.
Following on from the pre-letting to The Ivy Soho Brasserie last
June, the remainder of the 8,900 sq ft of retail space has been let
for a combined rent of GBP437,500, all on minimum 10 year terms to
October's Very Own, Nespresso and Bobbi Brown. GPE has also let
6,825 sq. ft. of office space to Exponent Private Equity LLP who
will occupy the sixth floor on a 10 year term (no break) paying an
annual rent of GBP750,750, equating to GBP110 per sq ft, the
highest office rent ever achieved in Soho. With four of the six
office floors and all the retail space now let, the building is 68%
occupied with good interest in the remaining two floors.
In total, 47,400 sq. ft. of new lettings have been signed since
1 January 2017 across GPE's portfolio, generating a combined annual
rent of GBP3.3 million, on average 1.6% ahead of March 2016 ERV.
Moreover, a further 82,700 sq. ft. of space is currently under
offer which would deliver approximately GBP5.5 million p.a. in rent
(our share: GBP4.8 million), in total 3.0% ahead of March 2016
ERV's.
Marc Wilder, Leasing Director said "We continue to see healthy
tenant demand for prime, well-located space within our portfolio
and together these lettings are testament to the quality of our
developments."
Contacts:
Great Portland Estates plc
Toby Courtauld, Chief Executive +44 (0) 20
7647 3042
Marc Wilder, Leasing Director +44 (0) 20 7647
3040
Finsbury Group
James Murgatroyd +44 (0) 20 7251 3801
Gordon Simpson +44 (0) 20 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCJPMRTMBITBTR
(END) Dow Jones Newswires
March 29, 2017 02:01 ET (06:01 GMT)
Great Portland Estates (LSE:GPOR)
Historical Stock Chart
From Apr 2024 to May 2024
Great Portland Estates (LSE:GPOR)
Historical Stock Chart
From May 2023 to May 2024
