The acquisition of 60 Great Portland Street is consistent with our strategy of targeting high quality assets located in those core office markets that provide attractive long-term growth prospects.
The main building offers 65,400 sq ft (6,075 sq m) of Grade A office space over 5 upper floors. The office floors are let entirely to advertising firm The Engine Group, on floor-by-floor leases, expiring in January 2028, providing an unexpired term of just over 12 years. As part of the acquisition, a further eight multi-let retail units, totalling 20,000 sq ft (1,850 sq m), are arranged over ground and basement floors in addition to 32 residential apartments, which are sold off on five long leases. The combined buildings form a rare island site in the West End, held freehold under a single ownership.
