Company reveals high take up of West End offices - commercial mortgages

15 February 2008

In news which may interest those with commercial mortgages, property firm Great Portland has announced that it has secured tenancies for a number of west London office lets, suggesting that significant demand for commercial office space may still remain despite the current economic problems.

The company has now completed the final lettings at its 180 Great Portland Street office building, with MJ Mapp, Aegis Group, St Modwen Developments and Estee Lauder Cosmetics all talking up large areas of the available space since November 2007, reports Property Week.

Great Portland Estates development director Neil Thompson commented: "These final lettings demonstrate that occupational demand remains solid in the West End where 81 per cent of our portfolio by value is located."

In related news, fellow West End property owner Shaftesbury has said that strong recent performances in the retail sector have enabled it to enjoy increased rental levels from its portfolio in Carnaby Street and Chinatown.