GPE has achieved record lettings since October, with more than 100,000 sq ft let for £5.5m.
The 17 new lettings will net GPE £4.6m a year for its share, 9.8% above March 2021 ERV.
Of the 17 leases that completed, four were for GPE’s flex spaces, with the most recent fully fitted and fully managed leases at Pollen House, W1, achieving a rent of £210 per sq ft. The largest transaction in the period was at Hanover Square, W1, where KKR recently added another 8,900 sq ft at Medici Courtyard to the 60,000 sq ft it has taken at 18 Hanover Square.
In total, GPE has signed 460,900 sq ft of new lettings since the start of the financial year, generating a combined annual rent of £32.5m, of which GPE’s share is £26.4m.
This surpasses GPE’s previous record leasing high of £31.8m in 2016, with two months of the financial year still to go.
GPE said a further 94,500 sq ft was under offer for a combined rent of £6.2m.
Chief executive Toby Courtauld said: “It is a significant achievement to deliver record leasing in a period marked by such economic and social disruption, which is a testament to both the quality of the spaces we have been delivering and the dedication and hard work of the GPE team. Absent a resurgence of the pandemic, our confidence is building for the remainder of 2022, as we expect the combination of economic growth, a return to normal trading conditions and central London’s magnetic appeal to be positive for our markets.”
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