Great Portland Estates has settled a number of rent reviews with Carlton Communications increasing the combined passing rent by £0.9 million, an increase of 37%.
Source: Great Portland Estates plc results for the year to 31 March 2017 24.05.2017 gpe.co.uk.
24/05/2017 12:11 by Buildington
Great Portland Estates signed a lease surrender at 200 Gray's Inn Road with ITN to take back 7,000 sq ft on the ground and first floor (let at £35.00 per sq ft), and agreed a new lease with ITN for 12,000 sq ft on the fifth floor at £62.50 per sq ft, setting a new benchmark rent for the building.
Securing the ground and first floor will enable the improvement of the entrance to the building, reconfiguring the reception space and adding a café, helping to redefine the building and support further rental increases.
Source: Great Portland Estates trading update for the quarter to 30 June 2016 www.gpe.co.uk
07/07/2016 12:13 by Buildington