Great Portland Ests. GPOR GWP agrees West End Pre-Let with LCP

  Great Portland Ests. (GPOR) - GWP agrees West End Pre-Let with LCP

RNS Number : 1481S
Great Portland Estates PLC
28 November 2012




GWP agrees West End Pre-Let with Lane Clark and Peacock

28 November 2012

The Great Wigmore Partnership ("GWP"), a 50:50 joint venture between Great
Portland Estates plc ("GPE") and Scottish Widows Investment Partnership,
announces that it has pre-let 40,000 sq. ft. to Lane Clark and Peacock LLP
("LCP") in its development at 95 Wigmore Street, London W1.



Works to complete the development are currently on site and practical
completion is scheduled for June 2013. The 111,200 sq. ft. project will
provide 82,300 sq. ft. of offices, 16,400 sq. ft of retail space and 12,500
sq. ft. of residential.



LCP, the leading firm of financial, actuarial and business consultants, will
occupy the first to third floors in the nine-storey building and will take a
fifteen-year lease, paying a total of £3,100,000 per annum, equating to an
average of £77.50 per sq. ft. for the office space.GWP will handover this
space to LCP in March 2013, allowing LCP's lease to start and giving them the
ability to commence their fit out before practical completion of the
building.LCP will receive 28.5 months' rent free from their lease
commencement.



Commenting on the transaction, Neil Thompson, Portfolio Director of GPE said,
"This pre-letting of close to half of the office space in the building is
further good letting business for GPE following the pre-lets we concluded with
Savills at 33 Margaret Street, W1 and UBM at 240 Blackfriars Road, SE1,
earlier this year.We are looking forward to welcoming LCP on completion of
their fit-out in the summer next year.95 Wigmore Street will be a prominent,
high quality West End building and we have good interest in the remaining
space".





Contacts

Great Portland Estates plc

Toby Courtauld

Chief Executive

+ 44 (0)20 7647 3042



Neil Thompson

Portfolio Director

+ 44(0) 20 7647 3029



Finsbury Group

Gordon Simpson

James Murgatroyd

+ 44 (0)20 7251 3801

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCBRBDBLGDBGDR -0- Nov/28/2012 07:00 GMT
 
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