The delayed opening of Crossrail has been beneficial to operations on site preventing the need to construct the building over a fully operational station, reports Great Portland Estates (GPE) in the results for the year ended 31 March 2019.

The steel frame is complete, the majority of the modular cladding has been applied.

Only the first floor in the main office building in the development is available and the scheme is now 48% pre-let with £12.8 million of rent secured.

GPE has commenced the marketing campaign for the Bond Street retail and the remaining office space. The project is expected to deliver a profit on cost of 20.9%. The development is owned in the GHS Partnership, our 50:50 joint venture with the Hong Kong Monetary Authority, with completion expected in Q3 2020.