Great Portland Estates hails leasing campaign at London asset

Great Portland Estates PLC on Thursday said it has completed a leasing campaign at a Central London asset, securing £3.7 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 £3.7 million of annual rent at an average of £245 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.

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