Great Portland Estates (GPE) has fully let the SIX St Andrew Street office scheme in Farringdon, after leasing 11,680 sq ft across the third and fourth floors of the building to an AI company.
The fully managed development generates £8.8m of annual rent at an average of £200/sq ft, 6.2% ahead of ERV, delivering a 6.2% yield on cost.
AI-related customers now represent 11.7% of GPE’s total office portfolio or 25.2% of its fully managed offices.
Molly Maguire, senior flex leasing manager at GPE, said: “Completing the leasing campaign at SIX marks a great milestone for our fully managed portfolio. Demand continues to be driven by customers looking for high quality, flexible workspace in well-connected central locations, and SIX has proven to be an excellent example of how that proposition resonates.
