Great Portland Estates PLC - London-based property development and investment company - Buys a building at 141 Wardour Street in the Soho area of the London West End for £39 million, and Bramah House in Bermondsey, south London, for £14 million. The building in Soho is 33,717 square feet, with office and restaurant space. Bramah House is a 15,696 square foot freehold building. The acquisitions cost £53 million in total. Great Portland expects the buildings to add to its growing ’Flex’ office portfolio.

Senior Investment Manager Alexa Baden-Powell says: ‘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.’’

Current stock price: 521.50 pence each, down 0.8% on Thursday at noon in London

12-month change: down 22%

Copyright 2023 Alliance News Ltd. All Rights Reserved.