01/03/2018 by Buildington
Great Portland Estates plc has let 23,700 sq ft, in two separate lettings, at its new 37,400 sq ft development at 55 Wells Street.
The new tenants will occupy the first and third to sixth floors and will pay a total rent of £2.1 million, at an average of 4% ahead of the September 2017 ERV. Four of the five floors were let on ten year leases (no breaks), the remainder was on a ten year lease with a break at year five.
These transactions leave just 5,100 sq ft of offices remaining on the second floor, alongside 4,200 sq ft of community space in the lower ground floor. The 4,400 sq ft of restaurant space was pre-let to Ottolenghi in 2017.
Read more at gpe.co.uk.