4th May 2023 12:21
Great Portland Estates PLC - London-based property development and investment company - Buys a building at 141 Wardour Street in the Soho area of the London West End for GBP39 million, and Bramah House in Bermondsey, south London, for GBP14 million. The building in Soho is 33,717 square feet, with office and restaurant space. Bramah House is a 15,696 square foot freehold building. The acquisitions cost GBP53 million in total. Great Portland expects the buildings to add to its growing 'Flex' office portfolio.
Senior Investment Manager Alexa Baden-Powell says: "141 Wardour Street is a fantastic opportunity to reposition an attractive Art Deco building in a core West End location into best-in-class fully managed space with excellent sustainability credentials. This acquisition, along with Bramah House in Bermondsey, is in line with our strategy to significantly increase our Flex offer over the next few years.''
Current stock price: 521.50 pence each, down 0.8% on Thursday at noon in London
12-month change: down 22%
By Xindi Wei, Alliance News reporter
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