Great Portland Estates has confirmed it has prelet 53,900 sq ft of offices at its Hanover Square development in Mayfair, W1, to natural resource company Glencore UK.
It will occupy the second to fourth floors of 18 Hanover Square on three separate 20-year leases, without breaks.
GPE, which is developing the scheme with joint venture partner the Hong Kong Monetary Authority, had already committed to delivering the scheme after preletting 57,200 sq ft on the fifth and eighth floors to Kohlberg Kravis Roberts & Co Partners on 15-year leases.
Only the 16,500 sq ft first floor remains available in the 127,600 sq ft building, which incorporates the eastern entrance to the New Bond Street Crossrail station.
The 1.3-acre Hanover Square Estate project also includes a building on New Bond Street containing 31,300 sq ft of shops with 33,300 sq ft of offices above and six residential units at the junction of New Bond Street and Brook Street. In addition, there is 8,300 sq ft of restaurant space and 6,300 sq ft of offices at Grade II listed 20 Hanover Square.
GPE chief executive Toby Courtauld said, “To date, we have secured 41% of the overall gross development value of the scheme, 18 months ahead of practical completion, and we are encouraged by further leasing discussions ongoing on much of the remaining space.”
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