Mobile gaming company eyes West End office deal
Mobile games company Dream Games is close to agreeing a deal to lease most of 1 Great Portland Street, W1, owned by Ikea’s sister company Ingka Investments.
EG understands the company is finalising a lease for around 40,000 sq ft, the majority of the 46,000 sq ft building, which is located between Fitzrovia, Soho and Mayfair.
The rent, which market sources say is around £100 per sq ft, will be above the average of £87.57 for the West End over the past 12 months, according to EG data.
Mobile games company Dream Games is close to agreeing a deal to lease most of 1 Great Portland Street, W1, owned by Ikea’s sister company Ingka Investments.
EG understands the company is finalising a lease for around 40,000 sq ft, the majority of the 46,000 sq ft building, which is located between Fitzrovia, Soho and Mayfair.
The rent, which market sources say is around £100 per sq ft, will be above the average of £87.57 for the West End over the past 12 months, according to EG data.
The deal follows an announcement last year that Dream Games was looking to establish its first overseas office in London alongside its existing base in Istanbul.
Valued at $2.8bn earlier this year, Dream Games has seen its most popular game, Royal Match, consistently ranked among top 10 most popular mobile games in the world.
According to the company’s most recently published accounts, by the end of December 2022 the game had approximately 9.5m daily users and was rankedin the top three mobile games for revenue generation in the US, the largest global market for mobile apps.
In his directors’ report for the same period, company chief executive Soner Aydemir highlighted the company’s commitment to growth and investment in the group’s products and customer base, which resulted in a $95.9m loss and reduced cash balance for the year.
Avison Young is representing Ingka on the deal.
Dream Games did not respond to a request for comment. Avison Young and Ingka declined to comment.
