GPE has posted one of its most successful quarters yet for leasing.
In an update for the quarter to 31 March 2025, the company said it had signed 32 new leases for a combined £18.2m of annual rent, 10% above estimated rental value. Leasing for the year now stands at £37.7m across 74 deals.
Sizeable deals included Independent Television News renewing leases for 117,000 sq ft of workspace at 200 and 214 Gray’s Inn Road, WC1, and the company’s largest fully managed deal to date, 11,500 sq ft of space let to retailer Next at the newly refurbished 31 Alfred Place, WC1.
Chief executive Toby Courtauld (pictured), said: “From here, we anticipate the pace to continue. GPE’s premium HQ and fully managed spaces are generating strong demand in a market that is increasingly starved of high quality supply.
“With two further fully managed deliveries in the summer, a new commitment made at The Courtyard and HQ development completions from early next year, along with our recent acquisition at Chapel Place, we are well positioned to take full advantage of favourable leasing markets. Despite the volatile macro-economic backdrop, a supportive surplus of demand over supply in our local markets gives us confidence in our positive rental growth and TAR outlook.”
Image from GPE
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