Business
GPE secures 38,400 sq ft of Fully Managed leasing
Great Portland Estates plc has secured 16 Fully Managed deals since January 1, 2026, totaling 38,400 sq ft and generating £9.1 million in annual rent, which is 9.7% above the estimated rental value (ERV) and offers a 74% cash flow advantage over traditional leases. This brings the financial year's Fully Managed leasing to 148,900 sq ft across 50 deals, securing £35.4 million in annual rent, 7.8% ahead of ERV, with notable progress at 170 Piccadilly and City Tower. Viewing levels for these spaces have also increased by 36% year-on-year, indicating strong demand for GPE's premium, service-led workspaces. Disclaimer*
About this update from Great Portland Estates Plc
[{"type":"text","content":"\n\n26 February 2026\n\nGPE announces 38,400 sq ft of Fully Managed leasing so far this calendar year\nGreat Portland Estates plc (GPE) announces that it has agreed 16 Fully Managed deals since 1 January 2026 (let or under offer). These deals will secure £9.1 million of annual rent at an average of £236 per sq ft, 9.7% ahead of ERV and generating a 74% cash flow beat to equivalent traditional Ready to Fit leases.\nThe new lettings span 38,400 sq ft of newly refurbished premium office space and includes five customer renewals, one customer expanding their workspace, and 10 new customers joining the portfolio.\nThis brings Fully Managed leasing for the financial year to 50 deals, covering 148,900 sq ft and securing £35.4 million in annual rent, 7.8% ahead of ERV. This includes GPE's newly completed 170 Piccadilly, W1 and phase one of City Tower, EC2 which are now 50% and 100% let respectively.\n\nSimon Rowley, Flex Workspaces Director, commented: \"Demand for our Fully Managed spaces in prime locations has never been stronger. Alongside our recent leasing success, we have also experienced record viewing levels in the first two months of the year, up 36% on the same period last year. This reinforces the strong and growing demand for our best in class workspaces and service led experience we provide to our customers across London.\"\n\n\n\n\n\nGreat Portland Estates plc\n\n\n+44 (0)20 7647 3000\n\n\n\n\nToby Courtauld, Chief Executive\n\n\n \n\n\n\n\nStephen Burrows, Director of Financial Reporting & IR\n\n\n \n\n\n\n\nSimon Rowley, Flex Workspaces Director\n\n\n \n\n\n\n\nYasemin Kiani, Communications Lead\n\n\n \n\n\n\n\n \nFGS Global\n\n\n \n\n\n\n\nJames Murgatroyd & Gordon Simpson\n\n\n+44 (0)20 7251 3801\n\n\n\n\nFor further information see www.gpe.co.uk or follow us on X at @GPE_London\nLEI Number: 213800JMEDD2Q4N1MC42\n\n","length":4170,"tagName":"div"}]