Great Portland Estates hails leasing campaign at London asset

(Alliance News) - Great Portland Estates PLC on Thursday said it has completed a leasing campaign at a Central London asset, securing GBP3.7 million worth of annual rent.

The London-based office landlord said the Nineteen Wells Street, W1 is now fully let or under offer, sealing a leasing campaign.

"The lower ground floor (1,446 sq ft) has been let to a global leader in business messaging solutions for local enterprises, while the ground floor (1,335 sq ft) has been let to a central London development corporation. The remaining first floor (2,754 sq ft) is currently under offer," GPE said.

"In total, the building is now fully let or under offer, securing GBP3.7 million of annual rent at an average of GBP245 per sq ft, some 7.7% ahead of estimated rent value."

The property is located opposite Tottenham Court Road station.

"The building includes high-quality shared amenities, such as a communal terrace with great views across London, as well as a communal boardroom," GPE added.

Great Portland Estates shares rose 0.5% to 302.20 pence each in London on Thursday morning.

By Eric Cunha, Alliance News news editor

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