GPE secures 38,400 sq ft of Fully Managed leasing

Great Portland Estates plc (GPE) announces that it has agreed 16 Fully Managed deals since 1 January 2026 (let or under offer). These deals will secure £9.1 million of annual rent at an average of £236 per sq ft, 9.7% ahead of ERV and generating a 74% cash flow beat to equivalent traditional Ready to Fit leases.

The new lettings span 38,400 sq ft of newly refurbished premium office space and includes five customer renewals, one customer expanding their workspace, and 10 new customers joining the portfolio.

This brings Fully Managed leasing for the financial year to 50 deals, covering 148,900 sq ft and securing £35.4 million in annual rent, 7.8% ahead of ERV. This includes GPE's newly completed 170 Piccadilly, W1 and phase one of City Tower, EC2 which are now 50% and 100% let respectively.

Simon Rowley, Flex Workspaces Director, commented: "Demand for our Fully Managed spaces in prime locations has never been stronger. Alongside our recent leasing success, we have also experienced record viewing levels in the first two months of the year, up 36% on the same period last year. This reinforces the strong and growing demand for our best in class workspaces and service led experience we provide to our customers across London."

Toby Courtauld, Chief Executive

Stephen Burrows, Director of Financial Reporting & IR

Simon Rowley, Flex Workspaces Director

Yasemin Kiani, Communications Lead

FGS Global