Great Portland Estates with Knotel completed lettings totalling £1.5million, bringing the short term lettings at the building to £1.9 million in the last quarter of 2019, securing income ahead of the proposed redevelopment of the building.

GPE is working on plans to maximise the potential of the site by significantly increasing the size of the building to 320,000 sq ft, up from the current 176,600 sq ft.

Initial discussions with the City of London have been encouraging and the project has a proposed start date of 2022.

Source: Great Portland Estates plc Trading update for the quarter to 31 December 2019.