Construction of the new building at 1 Newman Street & 70/88Oxford Street is progressing well with the development expected to top out in the next few weeks, reports Great Portland Estates.

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 Q3 2021.

Following the pre-let of the upper three floors to Exane, the building is currently 30% pre-leased.

Great Portland Estates expects the pre-leasing of the retail space to be more challenging in the near term given the impact of COVID-19 on the wider UK retail environment.