REG - Great Portland Ests. - GPE secures major development pre-let

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RNS Number : 5293I  Great Portland Estates PLC  14 May 2025

14 May 2025

 

GPE secures major development pre-let at 30 Duke Street St James's, SW1

Great Portland Estates (GPE) has today announced that it has pre-let the
entirety of the office space (62,500 sq ft) at 30 Duke Street St James's, SW1
to leading global investment firm CD&R. The lease is for a 15-year term
without break and with rents ahead of March 2025 ERV.

30 Duke Street will deliver brand-new premium HQ space featuring expansive
column free office floorplates, over basement to level seven, with 3,700 sq ft
of roof terraces on the upper levels. Designed by Make Architects, the
landmark building represents a new benchmark for sustainable design, premium
amenities and architectural excellence. The development is designed to embrace
the principles of the circular economy with 78% of the steel frame sourced
from recovered steel, largely from GPE's own deconstructed building at City
Place House, which is believed to be the largest steel reuse scheme in the UK,
and saving 90% of carbon that would have been emitted if exclusively new steel
had been used.

Practical completion is scheduled for summer 2026 with the building being
delivered to a shell and floor specification, allowing for CD&R to
commence their fit-out. The Agreement to Lease to CD&R for the entire
building, a year ahead of delivery, reflects the strong and sustained demand
for best-in-class offices in the core of the West End.

Marc Wilder, Leasing Director at GPE, commented: "CD&R is one of the
world's leading global investment firms and we are delighted to welcome them
to our latest development. This letting is a testament to both the exceptional
quality of the design of the building and the continued appeal of St James's
as a core destination for the financial sector and we are proud that they have
chosen us as their trusted partner to establish their UK Headquarters."

GPE was advised by Knight Frank and Cushman & Wakefield, while CD&R
was represented by Talbot Scott.

 Great Portland Estates plc                                                      +44  (0)  20  7647  3000
 Toby Courtauld, Chief Executive
 Nick Sanderson, Chief Financial & Operating Officer

 Marc Wilder, Leasing Director

 Stephen Burrows, Director of Investor Relations & Joint Director of
 Finance

 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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