Great Portland Estates PLC GPE secures major office letting at The Hickman (4996H)
04 December 2020 - 6:00PM
UK Regulatory
TIDMGPOR
RNS Number : 4996H
Great Portland Estates PLC
04 December 2020
4 December 2020
GPE secures major office letting at The Hickman, E1
Great Portland Estates plc (GPE) announces it has let 17,700 sq
ft of office space at The Hickman development on Whitechapel Road,
E1 to integrated marketing and communications agency Four
Communications Group Limited (Four).
Four will occupy the offices on the fifth, sixth and seventh
floors at The Hickman, 2/4 Whitechapel Road, E1 on ten year leases
(with a tenant break option in the seventh year), paying an annual
rent of GBP1.1 million. This transaction leaves a further 57,600 sq
ft of which negotiations are ongoing on 20,600 sq ft. Four is
currently an existing GPE occupier at New City Court, SE1 which
they will vacate once the leases complete at The Hickman, thereby
enabling the redevelopment of New City Court, subject to planning
permission, to create a best in class office development of circa
370,000 sq ft (+380%).
The Hickman is a seven storey building that has undergone an
extensive refurbishment to provide 75,300 sq ft of repositioned
office space. There are terraces on four floors in addition to a
communal, landscaped courtyard on the ground floor. The reception
area blends seamlessly into Makers Café which will shortly open to
the public.
Rob Russell-Smith, Senior Portfolio Manager commented, "This
transaction typifies the approach of GPE in repositioning assets
and developing strong relationships with our occupiers. We are
delighted that Four has chosen to stay part of the GPE family and
we look forward to continuing our relationship with them."
Nan Williams, Four's Group Chief Executive said, "This is a
pivotal moment for us and we're glad to have secured the premium
floors of this outstanding building along with the coveted outside
terraces that come with it. We would like to thank GPE for enabling
us to make a seamless move to the new premises in a vibrant,
diverse and up and coming area. The move also allows us to
reconfigure our space to suit our new way of flexible working with
less desking and more collaborative, project, social and event
space - something our staff have told us they want."
Contacts:
Great Portland Estates plc
Toby Courtauld, Chief Executive +44 (0) 20 7647 3042
Rob Russell-Smith, Senior Portfolio Manager +44 (0) 20 7647
3049
Finsbury Group
James Murgatroyd +44 (0) 20 7251 3801
Gordon Simpson +44 (0) 20 7251 3801
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END
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