Commerz Real leases out 3,100 square metres in London
Commerz Real has leased out a total of 3,100 square metres in its office and retail property “180 Great Portland Street” in London’s West End. The new office tenants are the talent management group James Grant, the property developer and investor Quintain, and the strategic communications firm Sard Verbinnen & Co (SVC). The property developer St. Modwen and the PR and media agency Dentsu Aegis have extended their lease contracts. Thus the occupancy rate for the property is approx. 95%.
London continues to remain extremely attractive for companies. Thus we were able to complete lease agreements with terms of as much as ten years without break options and at the same time we were able to raise the rents significantly.
Thomas Longerich, Head of London Branch / UK at Commerz Real
The building “180 Great Portland Street” was erected in 1910 and has been in the portfolio of the Commerz Real open-ended real estate fund hausInvest since 2008. The building was comprehensively modernised in 2017. Of the total of just less than 10,000 square metres, approx. 7,200 square metres are accounted for by office space and approx. 2,800 square metres by retail areas. The retail units are used for various gastronomy concepts and a branch of the supermarket chain Sainsbury’s.