Great Portland Estates plc (LON:GPE) has announced three new Fully Managed leasing deals, totalling 11,720 sq ft of premium, refurbished office space across SIX St Andrew Street, EC4 and 31/34 Alfred Place, WC1. At SIX, two additional floors (9,290 sq ft) have been leased to a world leader in business news and a blockchain analytics firm, while EKU Energy has taken 2,430 sq ft at Alfred Place, WC1.
These leasing deals secure £2.5 million in annual rent at an average of £212 per sq ft, 2.8% ahead of the March 2025 ERV. As a result, SIX and 31/34 Alfred Place are now 74% and 82% let respectively.
Fully Managed leasing activity has further accelerated in the second quarter of the financial year, with eight deals completed so far, surpassing the five secured in Q1. In addition, a further eight Fully Managed deals are currently under offer. To date, together with the space under offer, the Group’s Fully Managed deals total 69,800 sq ft, which will generate £16.5 million in annual rent, some 6.9% ahead of the March 2025 ERV.
This sustained demand for our premium Fully Managed offer reinforces our confidence ahead of the imminent completion of 170 Piccadilly, SW1 later this month, as we continue to grow our Flex offering which today comprises approximately 582,000 sq ft across 26 central London buildings.
Nick Sanderson, Great Portland Estates Chief Financial & Operating Officer, commented: “The strong leasing performance across our Fully Managed portfolio underscores the appeal of our premium, differentiated offer to leading London businesses. These buildings are striking a chord with our customers and are primed to unlock compelling income and value growth over the medium term.”
