Great Portland Estates plc (LON:GPE) has announced the letting of the final remaining office space at SIX St Andrew Street, EC4, completing leasing at the Fully Managed development.
The third and fourth floors of the building, totalling 11,680 sq ft, have been let to an AI company. As a result, the building is now fully occupied, generating £8.8 million of annual rent at an average of £200 per sq ft, 6.2% ahead of ERV, delivering a 6.2% yield on cost. AI-related customers now represent 11.7% of GPE’s total office portfolio or 25.2% of its Fully Managed offices.
This letting reflects the strong momentum in GPE’s Fully Managed portfolio, where leasing activity accelerated during the final quarter of the financial year, supported by record levels of viewings and enquiries, with 19 deals completed and a further seven currently under offer.
Located in Farringdon, SIX St Andrew Street, offers eight floors of newly refurbished Fully Managed office space ranging from 1,200 to 5,800 sq ft, complemented by high quality shared amenities including a communal lounge and boardroom, rooftop terrace, and a wellness studio.
Molly Maguire, Senior Flex Leasing Manager, commented: “Completing the leasing campaign at SIX marks a great milestone for our Fully Managed portfolio. Demand continues to be driven by customers looking for high quality, flexible workspace in well-connected central locations, and SIX has proven to be an excellent example of how that proposition resonates.”
