Great Portland Estates inks new lease agreement with Heineken UK

(Sharecast News) - Property development and investment firm Great Portland Estates said on Tuesday that Heineken UK has signed a new office lease for 17,000 square foot at its wells&more asset in West London. GPE stated Heineken will move in early next year on a "Ready to Fit" basis and said the new lease was a continuation of its "strong relationship" with the company.

The FTSE 250-listed firm added that Heineken's move from Elsley House, another GPE office, will enable it to create a further five "Fully Managed" units and amenity space at Elsley House in the newly vacated space, further growing its cluster of Fully Managed spaces in Fitzrovia.

GPE senior portfolio manager Rob Russell-Smith said: "We are delighted to welcome Heineken UK to wells&more. This latest letting is evidence of how our strong customer relationships, combined with a flexible, well-located portfolio, allow us to work together with our customers to meet their requirements as they evolve.

"Furthermore, this move will enable us to actively unlock space in Elsley House, enhancing our Fully Managed offer in Fitzrovia, where we are tapping into strong demand for such high-quality, flexible spaces."

As of 0910 GMT, GPE shares were down 0.36% at 297.94p.









Reporting by Iain Gilbert at Sharecast.com