1st Apr 2026 10:02
(Alliance News) - Great Portland Estates PLC on Wednesday said it has completed the sale of the leasehold interest in 103/133 Regent Street in central London.
The London-based office landlord said the Great Ropemaker Partnership, a 50/50 joint venture which it manages, has completed the sale of the 53-year leasehold to a private client of Chicago-based real estate firm Jones Lang LaSalle Inc.
The headline price of GBP52 million was "marginally" lower than the March 2025 book value. It reflects a 7.2% net initial yield and a capital value of GBP912 per square foot.
Great Portland Estates said 103/113 Regent Street is a 56,850 square foot grade-two listed building on the popular shopping street. The site is fully let to Uniqlo Co Ltd as its London flagship store until 2036.
The property firm said the disposal brings its total sales in the last 12 months to GBP490 million, at 2% in aggregate ahead of the book value from March 2025.
The building is held leasehold from the Crown Estate, on a lease expiring in April 2079.
"This sale marks a successful conclusion to a long-term investment for the Great Ropemaker Partnership. Since acquiring the building in 2009, we have benefited from strong occupier performance, sustained income growth and the enduring appeal of Regent Street as one of London's prime retail locations," said Sophie Pearce, senior portfolio manager at Great Portland Estates.
"The transaction reflects our ongoing strategy to recycle capital into opportunities with greater potential for value creation, while delivering strong returns for our partners."
Shares in Great Portland Estates were up 1.6% at 287.50 pence on Wednesday morning in London.
By Michael Hennessey, Alliance News reporter
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