Fashion/lifestyle retail giant Next has secured 11,500 sq ft of office space at the newly refurbished 31 Alfred Place in London’s Fitzrovia area of WC1. The space has been let on a five-year term from London-based property giant Great Portland Estates (GPE).
Next said it has required the additional office space to complement its existing London offices and will be moving into the building at the end of March, occupying four floors.
Alfred Place is a newly refurbished 42,000 sq ft building offering premium offices as well as a communal roof terrace, private terraces on selected floors, a spacious shared lounge and meeting room suite, and flexible wellness space.
David Korman, GPE’s senior leasing manager, said: “The rapid and positive leasing at Alfred Place highlights the strong demand for our well-located, amenity rich, premium Fully Managed spaces, while also demonstrating the expanding appeal to larger corporates that may have initially sought a more traditional arrangement.”
In November the central London landlord reported a rebound in half-year results, reporting “strong” leasing at levels well ahead of rental values, “exceptional” development returns and “profitable” asset sales. GPE returned to net profit showing a gain of £62.2 million for the six months ended 30 September, compared with a £154.8 million loss a year earlier.
