REG - Great Portland Ests. - GPE continues leasing momentum at City Tower, EC2

Great Portland EstatesAnnouncement

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RNS Number : 9189G  Great Portland Estates PLC  04 June 2026

4 June 2026

 

GPE continues leasing momentum at City Tower, EC2

Great Portland Estates plc (GPE) has secured three further lettings at City
Tower, EC2, taking leasing of the recently refurbished space to 69%. The
deals, which total 13,600 sq ft, were signed at an average premium of 3.1% to
ERV, underlining continued demand for GPE's Fully Managed offer.

With the latest space complete, the building provides 43,000 sq ft of Fully
Managed space which is expected to deliver £8.5 million of annual rent at an
average of £198 per sq ft (once fully let).

City Tower is being repositioned into a best-in-class Fully Managed asset in
the heart of the City, within a short walk of Moorgate, Bank and Liverpool
Street underground stations. GPE has now committed to deliver a further 43,600
sq ft of Fully Managed offices, alongside a new entrance, café, gym and
meeting room suite. Upon completion in early 2027, around 90% of the building
will have been converted.

Simon Rowley, Leasing & Flex Workspaces Director at GPE, said: "These
lettings underline the pace of demand for our Fully Managed offer and our
ability to convert that demand into rental income quickly. At City Tower, we
are delivering exactly what our strategy is designed to achieve, repositioning
well located assets into flexible space that drives income growth and creates
long term value."

 

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

 Yasemin Kiani, Senior Communications Lead

 Simon Rowley, Leasing & Flex Workspaces Director

 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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