22nd Sep 2005 07:01
Great Portland Estates PLC22 September 2005 22 September 2005 Great Victoria Partnership to Revamp Regent Street flagship Great Portland Estates plc ("GPE") announces that its joint venture withLiverpool Victoria Friendly Society, The Great Victoria Partnership ("GVP"),will take possession of the 17,000 sq ft Liberty store at 214-222 Regent Streetin September 2006 and apply for listed building consent to improve theconfiguration of the retail space. GVP announced the acquisition of a 46 year leasehold interest in the site fromLiberty parent Retail Stores Plc in April. Since then it has re-geared theexisting lease with the Crown Estate to a new 125 year lease. Robert Noel, Property Director of GPE, said: "Following the restructuring of theheadlease with the Crown Estate, this transaction represents the next stage inour asset management strategy to exploit the full potential of this landmarksite. The renaissance of Regent Street is very exciting with many retailersincluding Apple, Ted Baker, Kipling, Quiksilver, Karen Millen and Petit Bateaucommitting to new stores over the last 12 months." Contacts: Great Portland Estates plcToby Courtauld Chief Executive 020 7612 1442Robert Noel Property Director 020 7612 1443 FinsburyEdward Orlebar 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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