LONDON (ShareCast) - (Sharecast News) - Property developer Great Portland Estates said on Tuesday that it had secured a Fully Managed letting with leading compliance automation and trust management platform, Vanta.

Great Portland Estates said Vanta had let 7,500 square feet at its Kent House asset in West London, becoming the company's 10th AI-led customer. AI-related customers now represent 7.1% of GPE's total office portfolio or 18.5% of its Fully Managed offices.

The FTSE 250-listed firm highlighted that the UK AI sector has experienced "rapid growth", employing an estimated 86,000 people and generating £23.9bn in annual revenue. GPE added that within this landscape, London had "firmly positioned itself" as a global powerhouse for AI innovation and was now home to over 1,600 startups.

Financial terms of the agreement were not disclosed.

Chief executive Toby Courtauld said: "AI is reshaping how we work, and London sits at the centre of this transformation. Our Fully Managed buildings in prime London locations provide the flexibility and ease of occupation that fast-growing businesses like Vanta need.

"While the rise of AI may reduce global demand for office space, we believe premium workspaces in globally significant cities will remain magnets for top-tier AI talent and businesses and London is exceptionally well placed to benefit."









Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE