REG - Great Portland Ests. - Maintains strong Fully Managed leasing momentum

Great Portland EstatesAnnouncement

18/08/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250818:nRSR5928Va&default-theme=true

RNS Number : 5928V  Great Portland Estates PLC  18 August 2025

18 August 2025

 

GPE maintains strong Fully Managed leasing momentum

 

Great Portland Estates plc (GPE) has announced three new Fully Managed leasing
deals, totalling 11,720 sq ft of premium, refurbished office space across SIX
St Andrew Street, EC4 and 31/34 Alfred Place, WC1. At SIX, two additional
floors (9,290 sq ft) have been leased to a world leader in business news and a
blockchain analytics firm, while EKU Energy has taken 2,430 sq ft at Alfred
Place, WC1.

These leasing deals secure £2.5 million in annual rent at an average of £212
per sq ft, 2.8% ahead of the March 2025 ERV. As a result, SIX and 31/34 Alfred
Place are now 74% and 82% let respectively.

Fully Managed leasing activity has further accelerated in the second quarter
of the financial year, with eight deals completed so far, surpassing the five
secured in Q1. In addition, a further eight Fully Managed deals are currently
under offer. To date, together with the space under offer, the Group's Fully
Managed deals total 69,800 sq ft, which will generate £16.5 million in
annual rent, some 6.9% ahead of the March 2025 ERV.

 

This sustained demand for our premium Fully Managed offer reinforces our
confidence ahead of the imminent completion of 170 Piccadilly, SW1 later this
month, as we continue to grow our Flex offering which today comprises
approximately 582,000 sq ft across 26 central London buildings.

Nick Sanderson, Chief Financial & Operating Officer, commented: "The
strong leasing performance across our Fully Managed portfolio underscores the
appeal of our premium, differentiated offer to leading London businesses.
These buildings are striking a chord with our customers and are primed to
unlock compelling income and value growth over the medium term."

 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

 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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCKZGMRDKNGKZM