6th Feb 2025 10:34
(Alliance News) - Great Portland Estates PLC on Thursday said it has let around 10,800 square feet of office space in a fully-managed property in London, with a further 3,400 square feet under offer.
The London-based commercial property company said the spaces were let at an average of GBP222 per square foot to four new customers, who are all set to move into 31 Alfred Place within the next few weeks.
Artificial intelligence-powered advertising technology firm Smartly will rent 4,515 square feet and occupy the first floor.
Digital marketing consultancy BBL/P will occupy 4,300 square feet across the fifth and sixth floors, while production company Casual Films will rent 721 square feet on the ground floor.
An unnamed multinational retailer has signed for a further 1,225 square feet.
The Alfred Place property is made up of eight floors in total and includes a communal roof terrace, private terraces on some floors, a shared lounge, a meeting room suite and a wellness space.
Senior Leasing Manager David Korman said: "We're excited that leasing momentum continued unabated across our growing fully managed portfolio. These transactions average 8.6% ahead of [estimated rental value], comfortably ahead of our underwrite.
"The success here is also hot on the heels of our recent leasing success at St Andrew Street, which demonstrates strong customer demand for our premium fully managed workspaces."
Shares in Great Portland Estates were up 1.6% at 292.00 pence in London on Thursday morning.
By Emily Parsons, Alliance News reporter
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