Great Portland Estates PLC - London-based commercial property company - Buys 19/23 Wells Street, W1 in Fitzrovia, central London, from British Land PLC for £19 million. The 19,182 square feet building comprises basement, ground and five upper floors. ‘GPE intends to convert the space to its Fully Managed offer, together with transforming the ground floor space to deliver best-in-class amenity for its customers,’ Great Portland says. Investment Manager James Harrop-Griffiths says: ‘This is our second fully managed deal within the West End during the last six months. The building offers an excellent opportunity for us to enhance our cluster of properties in this vibrant area, enabling us to deliver a diverse range of workspaces for our customers, all accompanied by exceptional levels of customer service.’
Current Great Portland stock price: 329.50 pence each, down 0.5% on Tuesday morning in London
12-month change: up 3.9%
Current British Land stock price: 417.60 pence each, flat on Tuesday morning in London
12-month change: up 42%
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