Great Portland Estates (GPE) has pre-let 29,447 square feet (sq ft) of office space to Bridgepoint Advisers in its Wigmore development in London.
The project at 95 Wigmore Street is part of the company's Great Wigmore Partnership, a joint venture with SWIP-Real Estate. Works are still ongoing and due for completion next July.
The 112,700 sq ft project will provide 82,300 sq ft of offices, 17,900 sq ft of retail space in seven units and 12,500 sq ft of residential accommodation.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Bridgepoint, the leading private equity firm, will occupy the fifth to seventh floors of the building and will take a 15-year lease, with a tenant only option to break after 10 years, paying rent of £2.6m per annum, equating to an average of £90.40 per sq ft.
It is the second pre-let in the building after Lane Clark & Peacock leased 40,000 sq ft in November 2012 and leaves only one office floor of 12,890 sq ft available.
"This further pre-letting in the building means the office space is close to being fully let prior to completion," said Portfolio Director of GPE Neil Thompson.
"Occupiers such as Bridgepoint and Lane Clark & Peacock strongly endorse 95 Wigmore Street as a high quality West End development and we have good interest in the remaining office, retail and residential space."
RD
-
Who is the richest person in the world?The top five richest people in the world have a combined net worth of $825 billion. Who takes the crown for the richest person in the world?
-
Top 10 stocks with highest growth over past decade - from Nvidia, Microsoft to Netflix, which companies made you the most money?
We reveal the 10 global companies with the biggest returns since 2013. One firm has posted an astonishing 9,870% return, meaning a £1,000 investment would now be worth almost £82,000.
