Construction of the new building is progressing well with the core now
complete to level six, reports Great Portland Estates in the results for the six months ended 30 September 2019.
The building will deliver 81,200 sq ft of new offices and 37,900 sq ft of retail space directly opposite the Dean Street entrance to the Tottenham Court Road Crossrail station and completion is targeted for Q2 2021, with an expected profit on cost of 17.3%.
Occupier interest for the office space has been strong, given the quality of the building and the continued lack of new-build office supply in the core of the West End.
As a result, the entirety of the office space is now under offer. Retail demand has been modest given the building is not planned to complete until 2021 and the more challenging UK retail scene.