Great Portland Estates secures further lettings at 170 Piccadilly

(Sharecast News) - Property development and investment firm Great Portland Estates said on Thursday that it has now let of over 6,200 square feet at its 170 Piccadilly asset in West London, taking the fully managed development to over 73% let or under offer.

Great Portland Estates said a facilities management company would take 1,644 sqare feet on the sixth floor and a global automotive technology company had signed on to let 4,585 square feet on the fourth floor.

The FTSE 250-listed group highlighted that the space had been let 5.9% ahead of enterprise rental value, at an average rent of £294 per square foot.

GPE's Anna Tweed said: "Reaching over 73% occupancy at 170 Piccadilly is a clear sign of the momentum behind our Fully Managed offer. Demand continues to be driven by the building's exceptional quality, central location and the flexibility we provide our customers. With strong interest ongoing, we're confident in maintaining this positive leasing momentum across the wider Piccadilly Estate."

As of 0945 BST, GPE shares were down 0.51% at 313.80p

Reporting by Iain Gilbert at Sharecast.com

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