GPE sells London's wells&more building for £172m

(Sharecast News) - Great Portland Estates said it had sold the wells&more building in London's Fitzrovia to Feldberg Capital on behalf of Fastighets AB Balder for a headline price of £172m. At a 5.0% net initial yield and £1,483 per sq ft, GPE said the sale the price was "marginally ahead" of September 2025 book value and around 5% ahead of March 2025.

Developed by GPE in 2009 the building contains office, retail and medical space across lower ground, ground and five upper floors and generates annual rent of around £9.2m.

Reporting by Frank Prenesti for Sharecast.com