(Alliance News) - Great Portland Estates PLC on Wednesday said it has pre-let a property in central London to telecommunications company Inmarsat Global Ltd.
The London-focused property investor and developer said it has pre-let 121,800 square feet at 50 Finsbury Square.
Refurbishment will extend the office floor plates within the existing envelope of the building, create a large reception as well as improve the retail, leisure and amenity offer, Great Portland Estates said. Practical completion is scheduled for late 2022.
The building will be the company's first certified as net-zero carbon.
London-based Inmarsat provides services such as in-flight WiFi connectivity, as well as telecommunication services for customers in government and the maritime industry.
Great Portland Estates Leasing Director Marc Wilder said: "Inmarsat is the world's leading global mobile satellite communications company and we are delighted to welcome them to our latest development. We are working with their team to create a world class London headquarters that responds to the needs of this forward-thinking organisation by providing an amenity-rich environment, combined with smart building technology powered by our award-winning app, sesame."
Shares in Great Portland Estates were 0.7% higher at 780.00 pence each in London on Wednesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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