GPE pre-lets London development to Clifford Chance
By Frank Prenesti
Date: Wednesday 16 Nov 2022
(Sharecast News) - Great Portland Estates said it has pre-let all office space at its 2 Aldermanbury Square development in London's financial district to law firm Clifford Chance.
The legal firm will pay an initial rent of £77.00 per square foot, assuming no space is handed back, and will benefit from 38 months' rent free over the 15 year terms, with a further three months' rent free if the leases are not broken.
GPE has already commenced demolition of the existing building and has now committed to deliver the development by entering into a building contract with Lendlease, with completion anticipated in December 2025.
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