REG - Great Portland Ests. - GPE announces acquisition of 19/23 Wells Street

Great Portland EstatesAnnouncement

29/10/2024 07:00

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RNS Number : 9474J  Great Portland Estates PLC  29 October 2024

29 October 2024

 

 

GPE grows Flex portfolio with acquisition of 19/23 Wells Street, W1

 

Great Portland Estates plc (GPE) is delighted to announce it has exchanged on
the acquisition of 19/23 Wells Street, W1, for £19 million (£991 per sq ft),
from British Land plc. Located in the heart of Fitzrovia, the 19,182 sq ft
building comprises basement, ground and five upper floors. GPE intends to
convert the space to its Fully Managed offer, together with transforming the
ground floor space to deliver best-in-class amenity for its customers.

 

The building is within walking distance of a number of GPE's existing
holdings, including wells&more, Elsley House, Kent House and 7/15 Gresse
Street and will add to a growing cluster of GPE Fully Managed buildings in
Fitzrovia.

 

James Harrop-Griffiths, Investment Manager, said: "We are excited to announce
our acquisition of 19/23 Wells Street. This is our second Fully Managed deal
within the West End during the last six months. The building offers an
excellent opportunity for us to enhance our cluster of properties in this
vibrant area, enabling us to deliver a diverse range of workspaces for our
customers, all accompanied by exceptional levels of customer service."

 

 Great Portland Estates plc                                                      +44  (0)  20  7647  3000
 Toby Courtauld, Chief Executive
 Nick Sanderson, Chief Financial & Operating Officer
 Stephen Burrows, Director of Investor Relations and Joint Director of Finance

 James Harrop-Griffiths, Investment Manager

 Yasemin Kiani, Communications Lead

 FGS Global
 James Murgatroyd & Gordon                                                       +44  (0)  20  7251  3801
 Simpson

 

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

LEI Number: 213800JMEDD2Q4N1MC42

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