Heineken and ITN lift leasing for GPE
The top team at GPE sees a “healthy” London leasing market and is lining up further acquisitions.
In a quarterly update covering the final three months of 2024, the company said it had secured £9m in new deals, at more than 16% ahead of estimated rental value.
The deals take the company’s leasing for the financial year to £19.5m, 11.5% ahead of ERV.
The top team at GPE sees a “healthy” London leasing market and is lining up further acquisitions.
In a quarterly update covering the final three months of 2024, the company said it had secured £9m in new deals, at more than 16% ahead of estimated rental value.
The deals take the company’s leasing for the financial year to £19.5m, 11.5% ahead of ERV.
Deals included Heineken taking a 10-year lease on 17,000 sq ft of refurbished office space at 45-49 Mortimer Street, W1, and Independent Television News renewing at 200 & 214 Gray’s Inn Road, WC1.
“Whilst current macro-economic conditions are volatile, GPE’s outlook remains positive,” said chief executive Toby Courtauld. “Our prime occupational markets are healthy with good interest in the space we have available, particularly across our on-site developments and fully managed offices where we expect to set new benchmark rents.”
He added: “Furthermore, whilst investment markets remain muted given the volatile backdrop, this will likely extend our window for accretive purchases. Having already made three acquisitions since our capital raise in May… we have invested around £200m including expected capex and have a further building under offer to buy.”
Photo © GPE
