GPOR.L Regulatory News (GPOR)

15 Feb 2008 07:00

Great Portland Estates PLC15 February 2008 Great Portland Estates concludes run of West End lettings Great Portland Estates plc (GPE) announces that The Great Wigmore Partnership(GWP), its 50:50 West End joint venture with Scottish Widows InvestmentPartnership (SWIP), has concluded the final office lettings at 180 GreatPortland Street, W1. GPE commenced work on the 81,000 sq ft major office refurbishment in January2006, completing the project in early 2007. By November 2007, 49% of the office space had been let at rents ranging from £55per sq ft to £62.50 per sq ft. Since then, the remainder has been let to thefollowing companies on the terms as set out; ------------------------------------------------------------------------------------------Tenant Date Area Rent per sq ft Term Rent free ------------------------------------------------------------------------------------------MJ Mapp 19/12/07 16,054 sq ft £60.00 per sq ft 10 years 8 months ------------------------------------------------------------------------------------------Aegis Group plc 17/12/07 7,612 sq ft £62.50 per sq ft 10 years 6 months (tenant's break option year 7)------------------------------------------------------------------------------------------St Modwen 20/12/07 7,397 sq ft £65.00 per sq ft 10 years 9 monthsDevelopments Ltd ------------------------------------------------------------------------------------------Estee Lauder 28/01/08 7,377 sq ft £67.50 per sq ft 10 years 12 monthsCosmetics ------------------------------------------------------------------------------------------ The last remaining space in the 106,000 sq ft building is an 8,000 sq ft retailunit which is under offer to a supermarket operator. Commenting on these lettings, Neil Thompson, Development Director of GPE said"We are delighted to welcome such a range of high calibre occupiers to thisfirst class building. These final lettings demonstrate that occupational demandremains solid in the West End where 81% of our portfolio by value is located,whilst the quality of the refurbishment has enabled us to generate rental growthof 23% during the letting campaign alone". Contacts: Neil Thompson Development Director Great Portland Estates plc 020 7647 3029Toby Courtauld Chief Executive Great Portland Estates plc 020 7647 3042 FinsburyGordon Simpson 020 7251 3801James Murgatroyd 020 7251 3801 This information is provided by RNS The company news service from the London Stock Exchange