GPOR.L Regulatory News (GPOR)

Press Release

16 March 2021

GHS secures further leasing success at its Hanover Square development

The GHS Limited Partnership (GHS), one of Great Portland Estates plc's (GPE) joint ventures, announces it has let a further 9,000 sq ft of office space at its Hanover Square, W1 development to Lexington Partners LP (Lexington) for their new London office premises.

Lexington will occupy the second floor of the offices in 1 Medici Courtyard on a 15-year lease (with option to break at year 10). This transaction follows 111,000 sq ft of office pre-lettings to Kohlberg Kravis Roberts & Co. Partners LLP and Glencore UK Limited in 18 Hanover Square. A further 24,300 sq ft of office space remains available on the third to fifth floors in 1 Medici Courtyard, 16,500 sq ft on the first floor in 18 Hanover Square and 6,300 sq ft in the Grade II* listed 20 Hanover Square.

1 Medici Courtyard is a new seven storey building containing 31,000 sq ft of new flagship retail units on New Bond Street, with 33,300 sq ft of offices above. The office entrance is approached from the newly created Medici Courtyard, at the heart of the 1.3 acre, mixed use development that also comprises:

· 18 Hanover Square, which is a new nine storey building incorporating the eastern entrance to the Elizabeth Line's Bond Street station;

· six luxury residential apartments at the junction of New Bond Street and Brook Street, which have all been sold; and

· restaurant space, recently let to Colonial and offices in the Grade II* listed 20 Hanover Square.

Simon Rowley, Head of Office Leasing at GPE commented, "Best in class office space continues to be highly sought after, and that is exemplified by this transaction and the interest we have from occupiers in the rest of the scheme. We look forward to welcoming Lexington alongside KKR and Glencore as they complete their fit outs later this year."