WeWork has told GCP Living it wants to exit its lease on Scape Shoreditch, N1, imminently, leading GCP Living to seek legal advice to recover “the maximum possible amount” from the flex space giant should it walk away.
WeWork, which has a long-term lease on the building, owes £1.5m to GCP Living for rent payments due for the March and June quarters, the company claims, as well as a full September quarterly payment due.
In a financial update, GCP Student claimed WeWork has informed the company that it wishes to exit the lease immediately, despite remaining in discussions with WeWork about money owed. The passing rent is £2.5m per annum.
