(Alliance News) - Great Portland Estates PLC on Friday announced the letting of 17,000 square feet in office space at the Hickman development in Whitechapel, London to marketing and communications agency Four Communications Group Ltd.
Four Communications will occupy the offices on the fifth, sixth and seventh floors at the Hickman on ten-year leases, paying an annual rent of GBP1.1 million.
The deal will leave 57,600 square feet of space at the building in east London, on which negotiations are in progress on 20,600 square feet.
Four Communications is an existing Great Portland Estates tenant at office property New City Court near London Bridge train station in south east London, which will go through redevelopment once Four's leases at the Hickman are complete and Four moves.
"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," said Senior Portfolio Manager Rob Russell-Smith.
Shares in Great Portland Estates were up 1.4% at 670.80 pence on Friday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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