The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Great Portland Estates Acquires Two Central London Offices

Great Portland Estates Acquires Two Central London Offices
05 May 2023

Great Portland Estates has bought two Central London office buildings for £53 million.

Bramah House, 65/71 Bermondsey Street, SE1 and  141 Wardour Street, W1 will be added to Great Portland Estates (GPE) growing flex office portfolio which, following the acquisitions of Gresse Street, W1 and St Andrew Street, EC4 in 2022, totals 414,000 sq ft.


141 Wardour Street


141 Wardour Street was purchased for £39 million (£1,156 per sq ft). The 33,717 sq ft building is currently vacant, has been stripped out and benefits from planning consent for a comprehensive refurbishment.

The building is in the heart of Soho, on the corner of Wardour Street and Broadwick Street and within a five-minute walk of the new Tottenham Court Road Elizabeth line station.

The consented scheme will provide best-in-class office and restaurant accommodation arranged over lower ground, ground and six upper floors, with private terraces across the 4th to 6th floors and a communal roof terrace.


Bramah House


Bramah House at 65/71 Bermondsey Street, SE1 was purchased for £14 million from Canada Life Asset Management acting on behalf of the LF Canlife UK Property ACS, reflecting a 5.9 per cent net initial yield and a capital value of £892 per sq ft. The 15,696 sq ft freehold building is currently multi-let with a WAULT of 3.2 years to expiries.

Alexa Baden-Powell, Senior Investment Manager, said: "141 Wardour Street is a fantastic opportunity to reposition an attractive Art Deco building in a core West End location into best-in-class Fully Managed space with excellent sustainability credentials. This acquisition, along with Bramah House in Bermondsey, is in line with our strategy to significantly increase our Flex offer over the next few years.''

Picture: an aerial photograph showing a view of London showing The Thames and Tower Bridge. Image Credit: Unsplash

Article written by Ella Tansley | Published 05 May 2023


Related Articles

Flexible Workspace Provider x+why Certified as B Corporation

x+why has announced its certification as a B Corporation, joining a growing group of companies reinventing business by pursuing purpose as well as profit. x+why...

 Read Full Article
New London Workspaces Open in Midtown & Spitalfields

Flexible workspace provider x+why has announced the launch of two new London workspaces: The Fulwood in Midtown and Huguenot Place in Spitalfields. The...

 Read Full Article
Vorboss and Anaplan join British Land London Campuses

British Land has leased over 30,000 sq ft of workspace at its London campuses to tech businesses Vorboss and Anaplan. Leading fibre provider Vorboss has chosen...

 Read Full Article
22 Bishopsgate Complete

Europe’s first vertical village, 22 Bishopsgate, has reached completion. Powered 100 per cent by renewable energy, 22 Bishopsgate is designed to put people first...

 Read Full Article
The Redundancy of Real Estate – and How to Avoid it

PropTech expert Antony Slumbers tells us that even though customers don’t need an office, it’s real estate’s job to demonstrate why they should want...

 Read Full Article
Five Tech Companies Embracing Their Office Space

Despite 2020’s working from home revolution, five of the biggest tech giants are still demonstrating confidence in their physical office space. Recent research...

 Read Full Article
Channel 4’s Leeds HQ Office Building Complete

A landmark Leeds office building, destined to be Channel 4’s headquarters, has reached completion. The Majestic first opened as a 2,400-seat cinema back in 1922,...

 Read Full Article
Empty Offices Could Cost London Businesses Almost £13bn

Unused office space after coronavirus could prove costly for companies, as research predicts over 70 per cent of all office rent paid by businesses in London will be...

 Read Full Article
Regional Office Market Remains Stable Despite COVID

Data from Cushman & Wakefield shows that prime headline rents either remained stable or rose in all of the UK’s “Big Eight” regional office markets...

 Read Full Article
Former JLL Employees Launch Real Estate Advisory Service

Four major players in the London commercial property sector, all former JLL employees, have launched a real estate advisory service, Situu. Harry Murphy, Peter Hall,...

 Read Full Article