Great Portland Estates PLC GPE secures major office letting at The Hickman (4996H)

TIDMGPOR

RNS Number : 4996H

Great Portland Estates PLC

04 December 2020

4 December 2020

GPE secures major office letting at The Hickman, E1

Great Portland Estates plc (GPE) announces it has let 17,700 sq ft of office space at The Hickman development on Whitechapel Road, E1 to integrated marketing and communications agency Four Communications Group Limited (Four).

Four will occupy the offices on the fifth, sixth and seventh floors at The Hickman, 2/4 Whitechapel Road, E1 on ten year leases (with a tenant break option in the seventh year), paying an annual rent of GBP1.1 million. This transaction leaves a further 57,600 sq ft of which negotiations are ongoing on 20,600 sq ft. Four is currently an existing GPE occupier at New City Court, SE1 which they will vacate once the leases complete at The Hickman, thereby enabling the redevelopment of New City Court, subject to planning permission, to create a best in class office development of circa 370,000 sq ft (+380%).

The Hickman is a seven storey building that has undergone an extensive refurbishment to provide 75,300 sq ft of repositioned office space. There are terraces on four floors in addition to a communal, landscaped courtyard on the ground floor. The reception area blends seamlessly into Makers Café which will shortly open to the public.

Rob Russell-Smith, Senior Portfolio Manager commented, "This transaction typifies the approach of GPE in repositioning assets and developing strong relationships with our occupiers. We are delighted that Four has chosen to stay part of the GPE family and we look forward to continuing our relationship with them."

Nan Williams, Four's Group Chief Executive said, "This is a pivotal moment for us and we're glad to have secured the premium floors of this outstanding building along with the coveted outside terraces that come with it. We would like to thank GPE for enabling us to make a seamless move to the new premises in a vibrant, diverse and up and coming area. The move also allows us to reconfigure our space to suit our new way of flexible working with less desking and more collaborative, project, social and event space - something our staff have told us they want."

 
Contacts: 
Great Portland Estates plc 
Toby Courtauld, Chief Executive [phone] 
Rob Russell-Smith, Senior Portfolio Manager [phone] 
 3049 
 
Finsbury Group 
James Murgatroyd [phone] 
Gordon Simpson [phone] 
 

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December 04, 2020 02:00 ET (07:00 GMT)