Information  X 
Enter a valid email address

Great Portland Ests. (GPOR)

  Print   

Wednesday 10 March, 2021

Great Portland Ests.

GHS secures signature restaurant at Hanover Square

RNS Number : 7120R
Great Portland Estates PLC
10 March 2021
 

 

 

 

Press Release

 

 

10 March 2021

 

 

GHS secures a new signature restaurant at Hanover Square development

 

The GHS Limited Partnership (GHS), one of Great Portland Estates plc's (GPE) joint ventures, announces that it has let the 9,350 sq ft restaurant which sits within historic Grade II* listed 20 Hanover Square, W1, to Colonial Property Co (Colonial), for a New England inspired concept across three floors of dining and social gathering.

 

Colonial has agreed a twenty-year lease (without break) at an initial minimum rent of £600,000 per annum (plus a turnover top-up). Colonial received a 24 month rent free (plus a landlord contribution of £600,000, paid following completion of the fit-out). The restaurant comprises three levels, ground and two lower ground floors with a 1,100 sq ft raised external terrace overlooking the newly created 8,400 sq ft Medici Courtyard.

 

20 Hanover Square forms part of the 1.3 acre, mixed-use development on a premier garden square that comprises: 18 Hanover Square, a new nine storey building incorporating the eastern entrance to the Elizabeth Line's Bond Street station of which 111,000 sq ft has already been pre-let to KKR and Glencore, leaving only 16,500 sq ft available; a separate building (1 Medici Courtyard) containing 33,300 sq ft of offices above 31,000 sq ft of new flagship retail units on New Bond Street, and six luxury residential apartments totalling 12,700 sq ft at the junction of New Bond Street and Brook Street which have now all been sold.

 

Marc Wilder, GPE's Leasing Director, commented: "We're delighted that Colonial has chosen our world class Hanover Square development to open their first UK restaurant. The New England cuisine style and opulent fit out will combine to create the most exciting eating and drinking destination in the heart of Mayfair. We are also encouraged by the continuing strong occupier interest across a high proportion of the total remaining space within the scheme".

 

The founder of Colonial Property commented: " This Georgian property at the heart of the new Hanover Square development is the perfect location for our concept - rich with British heritage, style and elegance. We are thrilled to be working with GPE on this and look forward to revealing more about the concept as we get closer to the opening in the autumn of 2021".

 

 

 

 

Contacts:

 

 

Great Portland Estates plc

 

Toby Courtauld, Chief  Executive                                 

+44 (0) 20 7647 3042 

Marc Wilder, Leasing Director

+44 (0) 20 7647 3040

 

 

Finsbury  Group                                                                     

 

James  Murgatroyd                                           

+44 (0) 20 7251 3801

Gordon Simpson                           

+44 (0) 20 7251 3801

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
AGRJLMLTMTMMBPB

a d v e r t i s e m e n t