Great Portland Estates plc (LON:GPE) has completed 30 Duke Street St James’s, SW1, its prime St James’s development, on time and on budget, with all office and retail space pre let ahead of completion.
Global investment firm CD&R committed to its new office headquarters in May 2025, more than a year ahead of completion. The scheme’s two prime retail units have also been pre let to Australian menswear brand M.J. Bale and restaurant group L’Eto.
The successful leasing campaign secured average rents 6.7% ahead of ERV, supporting an anticipated development profit on cost of 37.1% and an ungeared IRR of 30.5%.
Designed by Make Architects, this highly-sustainable, prime development offers column-free floorplates, premium amenities and more than 3,700 sq ft of roof terraces, supporting productivity, wellbeing and collaboration.
Delivered in line with the principles of the circular economy, 30 Duke Street St James’s sets a new sustainability benchmark. 78% of its steel frame was sourced from recovered steel, primarily from GPE’s deconstructed City Place House. Believed to be the UK’s largest office steel reuse scheme, this approach reduced the carbon associated with the steel frame by around 90% compared with using entirely new steel.
Tom Crawley, Senior Project Manager at GPE, commented: “Completing 30 Duke Street St James’s fully pre-let demonstrates the strength of demand for best in class space in the heart of St James’s. The scheme reflects the quality of our product, the expertise of our team and our ability to deliver exceptional workplaces for leading global businesses.”
