Great Portland pre-lets two floors at Hanover Square
Property developer Great Portland Estates has pre-let 53,900 square feet of office space at its Hanover Square project to natural resources firm Glencore.
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Great Portland leased the second and fourth floor of the West London site to Glencore on three separate 20-year leases via its 50/50 joint venture with the Hong Kong Monetary authority, GHS.
In 2018, the FTSE 250 resident pre-let 57,200 square foot on the fifth and eighth floors to investment firm Kohlberg Kravis Roberts & Co on fifteen-year leases, leaving only the first floor of the nine-storey building available.
Chief executive Toby Courtauld said: "This has been a rare opportunity to create a world-class development, on a premier garden square, in the heart of Mayfair. We have been delighted by the strong occupier interest, and to have attracted both Glencore and KKR to 18 Hanover Square is a testament to its quality.
"To date, we have secured 41% of the overall gross development value of the scheme, 18 months ahead of practical completion, and we are encouraged by further leasing discussions ongoing on much of the remaining space."