2nd Oct 2024 10:02
Great Portland Estates PLC - London-based commercial property company - Lets 6,900 square feet of retail space on a 20-year lease at Portman Square, Orchard Court in west London to Gaggenau, a luxury brand for professional-grade home appliances. The brand will relocate from its current unit at 40 Wigmore Street, doubling its footprint occupying a prominent position on Portman Square as the anchor tenant for Great Portland's 'Portman & Wigmore' development.
Head of Retail Sarah Goldman says on Tuesday: "We are delighted that Gaggenau will be opening its new flagship at Portman Square. As one of the leading luxury home appliance brands, the decision to relocate from globally recognised Wigmore St and increase its footprint within the West End highlights the appeal of our central location at Portman & Wigmore, and shows we are committed to strengthening the retail offer." Great Portland doesn't provide an financial details on the lease.
Current stock price: 353.50 pence, down 1.8% in London on Wednesday
12-month change: up 4.2%
By Tom Waite, Alliance News editor
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