Great Portland Estates PLC GPE secures Inmarsat pre-let at 50 Finsbury Square (6669J)

TIDMGPOR

RNS Number : 6669J

Great Portland Estates PLC

25 August 2021

25 August 2021

GPE secures major development pre-let at 50 Finsbury Square, EC2

Great Portland Estates plc (GPE or the Group) announces that it has pre-let 121,800 sq ft at 50 Finsbury Square, EC2 to telecommunications company Inmarsat Global Limited (Inmarsat).

Cushman and Wakefield acted as real estate advisors to Inmarsat.

The Group's refurbishment will extend the office floor plates within the existing envelope of the building, create a large reception as well as improve the retail, leisure and amenity offer. Practical completion is scheduled for late 2022.

Marc Wilder, Leasing Director of GPE, said: "Inmarsat is the world's leading global mobile satellite communications company and we are delighted to welcome them to our latest development. We are working with their team to create a world class London headquarters that responds to the needs of this forward-thinking organisation by providing an amenity-rich environment, combined with smart building technology powered by our award-winning app, sesame(TM).

50 Finsbury Square will be our first development to deliver on all four pillars of our Sustainability Statement of Intent and is expected to be our first certified as net zero carbon. We are delighted that Inmarsat share our sustainability ambitions and have committed to continue to work with us on this important issue."

Natasha Dillon, Chief People Officer at Inmarsat, said: "Inmarsat is committed to its people and to providing them with the best possible environment in which they can deliver for our customers around the world. These new facilities will greatly enhance the company's offering for our people as well as enable our new hybrid working model, where each individual can work from the office or elsewhere as the specific needs of the business and the individual require."

Contacts:

Great Portland Estates plc [phone]

Toby Courtauld, Chief Executive

Marc Wilder, Leasing Director

Stephen Burrows, Director of Financial Reporting and IR

Finsbury Glover Hering [phone]

James Murgatroyd

Gordon Simpson

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August 25, 2021 02:01 ET (06:01 GMT)