Great Portland Estates PLC GHS completes office leasing at 18 Hanover Square (2656Y)
May 12 2021 - 2:00AM
UK Regulatory
TIDMGPOR
RNS Number : 2656Y
Great Portland Estates PLC
12 May 2021
12 May 2021
GHS completes office leasing at 18 Hanover Square, W1
The GHS Limited Partnership (GHS), one of Great Portland Estates
plc's (GPE) joint ventures announces it has completed the office
leasing of 18 Hanover Square with a 16,500 sq ft letting on the
first floor to an undisclosed financial services company.
Having concluded two office pre-lettings of c.111,000 sq ft to
Kohlberg Kravis Roberts & Co. Partners LLP and Glencore UK
Limited, this final transaction concludes the office leasing in the
nine storey headquarters building, less than six months after
practical completion. The total contracted office rent is GBP14.8
million (ahead of March 2021 ERV) with a weighted average unexpired
lease term of 15.7 years.
18 Hanover Square is a new nine storey building incorporating
the eastern entrance to the Elizabeth Line's Bond Street station
and is at the heart of the 1.3-acre mixed-use development that also
comprises:
-- 1 Medici Courtyard, a new seven storey building containing
31,000 sq ft of new flagship retail units on New Bond Street, with
33,300 sq ft of offices above, where the second floor (9,000 sq ft)
was recently let to Lexington Partners LP and the third floor
(9,000 sq ft) is now under offer;
-- six luxury residential apartments at the junction of New Bond
Street and Brook Street, which have all been sold; and
-- 6,200 sq ft offices in the Grade II* Listed 20 Hanover Square
(which is all under offer), alongside restaurant space, which was
recently let to Colonial Property Co.
Simon Rowley, Head of Office Leasing at GPE commented, "From the
off-plan deal with KKR, through to these recent transactions, our
Hanover Square development has been highly sought after as an
office destination. The final occupier in 18 Hanover Square faced
competition for the space and their commitment is a welcome
reminder of the continuing strength of London's core office
markets. We have further interest in the remaining offices, which
we expect to conclude in the near future."
Contacts:
Great Portland Estates plc
Toby Courtauld, Chief Executive +44 (0) 20 7647 3042
Simon Rowley, Head of Office Leasing +44 (0) 207 647 3059
Finsbury Group
James Murgatroyd +44 (0) 20 7251 3801
Gordon Simpson +44 (0) 20 7251 3801
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