Great Portland signs four new leases at Fitzrovia office
By Benjamin Chiou
Date: Thursday 06 Feb 2025
(Sharecast News) - London-focused property developer Great Portland Estates has announced four new leases for fully managed offices at its newly completed building near Goodge Street in Fitzrovia.
The four leases cover 10,800 square feet of office space at 31 Alfred Place, WC1 and have been let ahead of estimated rental value at £222 per sq ft on average, with all four clients set to move in over the next few weeks.
"We're excited that leasing momentum continues unabated across our growing fully managed portfolio," said David Korman, GPE's senior leasing manager.
The site has been leased to adtech firm Smartly, marketing consultancy BBL/P, production company Casual Films and an unnamed multinational retailer.
"These transactions average 8.6% ahead of ERV, comfortably ahead of our underwrite. The success here is also hot on the heels of our recent leasing success at SIX (St Andrew Street), which demonstrates strong customer demand for our premium fully managed workspaces."
An additional 3,400 sq ft of space is also under offer at the eight-storey newly refurbished office, GPE said.
GPE shares were down 0.4% at 286.5p by 0816 GMT.
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