REG - Great Portland Ests. - GPE achieves good leasing progress at City Tower

Great Portland EstatesAnnouncement

19/02/2026 07:00

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RNS Number : 5713T  Great Portland Estates PLC  19 February 2026

19 February 2026

 

GPE announces first phase of Fully Managed space at City Tower, EC2 is now
100% let or under offer

Great Portland Estates plc (GPE) announces that all 28,700 sq ft of Fully
Managed space in phase one of the repositioning of City Tower is now fully let
or under offer. Once complete, these lettings are expected to deliver £5.3
million in annual rent at an average of £186 per sq ft, representing a 6.6%
beat to the March 2025 ERV.

The second phase, comprising a further 19,900 sq ft of space, is scheduled to
launch in March. In total, 48,800 sq ft, representing around half of the 21
storey building, will have  been converted to our Fully Managed offer.

City Tower is located in the heart of the City, a short walk from Moorgate
Elizabeth line and Bank and St Paul's underground stations. The imminent
launch of the next phase of office conversions marks a significant step in its
wider repositioning into a best in class Fully Managed asset. As part of the
repositioning, significant extra amenity has been created in the building
including the creation of more than 4,200 sq ft of new communal and event
space on level 21, complete with panoramic views over the City.

GPE's Fully Managed offer provides customers with premium, flexible,
all-inclusive workspace. Fully Managed customers in the building now include
Standard Chartered, Agave Capital Management and Avalara Europe.

City Tower sits adjacent to GPE's 2 Aldermanbury Square development, which has
been pre-let to international law firm Clifford Chance and is expected to
complete this month.

Anna Tweed, Flex Leasing Manager at GPE, commented: "We are greatly encouraged
by the strong levels of enquiries for our Fully Managed spaces across the GPE
portfolio, and we are delighted to have translated this interest into
successful leasing at City Tower. Demand for high quality, well connected
workspace in the City of London remains robust, and these lettings demonstrate
that City Tower is well positioned to provide the Fully Managed environments
our customers are looking for."

 

 Great Portland Estates plc                                 +44 (0)20 7647 3000
 Toby Courtauld, Chief Executive
 Stephen Burrows, Director of Financial Reporting & IR
 Anna Tweed, Flex Leasing Manager
 Yasemin Kiani, Communications Lead
 FGS Global
 James Murgatroyd & Gordon Simpson                          +44 (0)20 7251 3801

For further information see www.gpe.co.uk or follow us on X at @GPE_London

LEI Number: 213800JMEDD2Q4N1MC42

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