13th Jan 2025 09:39
(Alliance News) - Great Portland Estates PLC on Monday said that Independent Television News Ltd has committed to its building near Farringdon station for another 10 years.
The London-based commercial property company said that ITN has renewed both of its leases at 200 and 201 Gray's Inn Road, a 287,900 square foot media hub building where it produces news programming for ITV, Channel 4 and Channel 5.
ITN's lease renewals are for 117,000 square feet of workspace, with the contracted annual rent set at GBP4.1 million from March 2025 for a term of 10 years, but with a break at year 5. It will continue to occupy around 40% of the total floor area across the two properties
Great Portland Estates Chief Executive Toby Courtauld said: "We are delighted that ITN has renewed its leases at 200 Gray's Inn Road and committed to the building for a further 10 years. The new leases exemplify the confidence of our customers in GPE's ability to deliver a complete upgrade and renewal of 200 Gray's Inn Road into a best in class workspace, meeting the needs of our customers."
Its shares were up 0.4% at 267.50 pence on Monday morning in London.
By Christopher Ward, Alliance News reporter
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