Construction is advancing well at Hanover Square, reports great Portland Estates.

The retail units are complete and the sectional completion of the offices from August 2020 is on track with full practical completion expected in November 2020.

The scheme will deliver 221,100 sq ft of new space, comprising 167,100 sq ft of offices, 41,800 sq ft of retail and restaurant space and 12,200 sq ft of residential apartments. Interest in the remaining office space continues to be strong.

Great Portland Estates currently has 32,900 sq ft of office space under offer at 1 Medici Courtyard.

The scheme is now 66.5% pre-let or under offer with only 22,800 sq ft of offices available on the first floor of 18 Hanover Square and in the Grade II listed 20 Hanover Square.

Interest in the remaining retail units (36,800 sq ft) is expected to be subdued until retail activity and footfall return to more normalised levels.

The developer remains optimistic on their leasing prospects given the units are located on one of the world’s premier retail streets, with attractive relative pricing and a unit sizing that is appropriate to their target market.