GPE completes sale of £52m Regent Street mixed-use block

The Great Ropemaker Partnership (GRP), a 50:50 joint venture managed by Great Portland Estates (GPE), has completed the sale of a mixed-use block on London’s Regent Street to a private client of JLL for £52m, reflecting a net initial yield of 7.2%.

The property, located at 103/113 Regent Street, is a 56,850 sq ft Grade II Listed building comprising a large retail unit, fully let to UNIQLO until 2036, and offices on the upper levels.

GPE said the sale was completed for a fee marginally below the March 2025 book value and reflects a capital value of £912 per sq ft.

The building is held leasehold from The Crown Estate on a lease expiring in April 2079.

Sophie Pearce, portfolio manager at GPE, said: “This sale marks a successful conclusion to a long-term investment for the Great Ropemaker Partnership. Since acquiring the building in 2009, we have benefited from strong occupier performance, sustained income growth and the enduring appeal of Regent Street as one of London’s prime retail locations. The transaction reflects our ongoing strategy to recycle capital into opportunities with greater potential for value creation, while delivering strong returns for our partners.”