The first phase of fully managed space at Great Portland Estate’s (GPE) City Tower scheme in the City of London is now let or under offer.
Once the 28,700 sq ft of lettings complete, they are expected to deliver £5.3m in annual rent at an average of £186/sq ft, representing a 6.6 % beat to the March 2025 ERV.
The second phase, comprising a further 19,900 sq ft of space, is scheduled to launch in March. In total, GPE intends to convert 48,800 sq ft – around half of the 21-storey building – to its fully managed offer.
Anna Tweed, flex leasing manager at GPE, said: “We are greatly encouraged by the strong levels of enquiries for our fully managed spaces across the GPE portfolio, and we are delighted to have translated this interest into successful leasing at City Tower. Demand for high quality, well connected workspace in the City of London remains robust, and these lettings demonstrate that City Tower is well positioned to provide the fully managed environments our customers are looking for.”
