GPE secures West-End HQ opportunity
with One Chapel Place acquisition

Great Portland Estates (GPE) has announced that they are expanding their West End footprint once again - this time with the acquisition of One Chapel Place, W1. The deal, which saw GPE acquire Cypress Dynasty Limited - the freehold owner of the property - was based on a valuation of £56 million at a 4.4% net initial yield. Located just moments from Bond Street and the Elizabeth Line, this prime asset is set to become a key player in GPE’s ever-growing portfolio of premium, managed workspaces.

Spanning 34,230 sq ft, the building is currently fully let, bringing in an annual rent of around £2.5 million, with leases due to expire in mid-2028. But GPE has bigger plans on the horizon. With existing designs targeting an expansion to approximately 57,000 sq ft, this goes beyond just just an acquisition - it’s a strategic HQ development play.

Speaking about the move, Alexa Baden-Powell, Senior Investment Manager at GPE, said: “One Chapel Place meets all of our acquisition criteria. This is a freehold asset, in a prime Bond Street location, with significant massing potential, and provides a rare opportunity to create a best-in-class, premium HQ office building with excellent sustainability credentials in a location that is starved of high quality supply”.