Great Portland Estates PLC - London-based commercial property developer - Hails its largest ‘fully managed deal to date’, letting office space to FTSE 100 retailer Next PLC in the Fitzrovia area of London. The fully managed space at 31 Alfred Place has been let on a five-year term and ahead of the estimated rental value, GPE says. ‘Next has required additional office space to complement their existing London offices and will be moving into the building at the end of March to occupy a total of four floors, including the lower ground, duplex, third and fourth floors,’ GPE explains.
The building is next door to Whittington House, a recent acquisition of GPE, and opposite another GPE fully managed building, Courtyard. GPE says it has let 24,500 square feet of the 42,000 square foot building at 31 Alfred Place at an average of £209 per square foot within three months of its launch.
Current stock price: 271.50 pence, up 0.9% in London on Monday morning
12-month change: down 16%
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