Portman Estate signs two Marylebone occupiers
The Portman Estate has signed flexible workspace provider x+why and private markets investment firm Adams Street Partners for four floors at its One Great Cumberland Place scheme in Marylebone, W1.
X+why will take floors two, three and eight in the 59,331 sq ft art deco building, which is currently being redeveloped, under a 10-year management agreement.
The eighth floor, known as The Orchard, will become an amenity space with meeting and events rooms, a bar space and private dining.
The Portman Estate has signed flexible workspace provider x+why and private markets investment firm Adams Street Partners for four floors at its One Great Cumberland Place scheme in Marylebone, W1.
X+why will take floors two, three and eight in the 59,331 sq ft art deco building, which is currently being redeveloped, under a 10-year management agreement.
The eighth floor, known as The Orchard, will become an amenity space with meeting and events rooms, a bar space and private dining.
Adams Street Partners has agreed a prelet for 7,600 sq ft on the seventh floor.
Tom Knight, portfolio director at The Portman Estate, said the deals account for 60% of office space at the scheme.
He added: “It is critical that we continue to diversify the places and spaces across The Portman Estate to create a thriving community in Marylebone through our partnerships.”
Rupert Dean, chief executive at x+why, said: “The Orchard gives the post-pandemic business exactly what it needs to operate in a hybrid way, while building and retaining workplace culture and promoting employee wellbeing.”
The redevelopment of One Great Cumberland Place includes designs by Allford Hall Monaghan and Morris architects, and is due for completion next month.
CBRE and Cushman & Wakefield advised the estate on the deal. Carter Jonas advised Adams Street Partners.
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