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Sign in Sign up for a FREE subscriptionGPE sells London office scheme for €219m
Great Portland Estates plc (GPE) has exchanged contracts on the sale of the freehold of 50 Finsbury Square, EC2, to a wholly owned subsidiary of Wirtgen Invest Holding GmbH, a private German family office, for €219 million ($217 million).
GPE will retain responsibility for delivering the development, with completion of the sale expected in first quarter 2023 following practical completion and commencement of the leases of the office and retail space.
50 Finsbury Square is undergoing a comprehensive refurbishment, with practical completion scheduled for fourth quarter 2022. Sustainability and well-being have been at the heart of the refurbishment, and when complete, the building will be BREEAM Excellent and GPE’s first Net Zero Carbon development.
The building will provide 121,800 square feet of offices arranged over lower ground, ground and seven upper floors, together with a terrace on the sixth floor and a further pavilion and extensive roof terrace on th
