Great Portland Estates JV snaps up office building on Old Street

Great Portland Estates (GPE), the FTSE 250 real estate investment trust, has purchased a 97,807 square-foot office building on Old Street, Central London, which represents an opportunity to create 'significant value', the firm said on Wednesday morning.

Great Portland Estates (GPE), the FTSE 250 real estate investment trust, has purchased a 97,807 square-foot office building on Old Street, Central London, which represents an opportunity to create 'significant value', the firm said on Wednesday morning.

GPE's 50/50 joint venture with the BP Pension Fund, the Great Ropemaker Partnership (GRP), has acquired 148 Old Street from the BP Pension Fund for £30m.

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