7th Jan 2026 08:21
Great Portland Estates PLC - London-based commercial real estate developer and landlord - Acquires new 155-year leasehold interest in 10 South Crescent, WC1 for GBP51 million or GBP708 per square foot on the current net internal area. Says the price reflects a 6.8% net yield and projected 7.1% running yield once the vacant retail unit is let. The property "will be repositioned to create a best-in-class, decarbonised HQ office and retail building, with premium amenities and enlarged roof terraces," Great Portland says. Adds that the offices are single-let for four years "at a highly reversionary rent" of GBP67 per square foot. It joins an existing group of Great Portland Estates buildings around Alfred Place, providing "a high-quality mix of Grade A HQ and fully managed space in an amenity-rich West End location." Read More