GPE wraps up £172m sale
of Fitzrovia office

After a brisk round of negotiations, Great Portland Estates (GPE) has now officially parted ways with its wells&more office building in Fitzrovia. The £172m deal sees the well-heeled workspace pass into the hands of Feldberg Capital. Here's everything you need to know. 

The sale price lands narrowly ahead of the building’s September 2025 book value and roughly 5% above its March 2025 valuation. Marking a tidy send-off for the developer, it also comes as a timely moment to pass the baton.

Originally delivered by GPE back in 2009 and treated to a thoughtful refresh in 2022, wells&more stands prominently at the junction of Wells Street and Mortimer Street. The building stretches across 116,000 sq ft, unfolding over the lower ground, ground, and five upper floors. Inside, a balanced medley of Grade A offices, retail, and medical space fills the building. Together, they form a polished HQ-style address in one of Fitzrovia’s most sought-after pockets. 

Today, the building plays host to a formidable roster of occupiers, including the likes of Heineken, Airwallex and Brown-Forman Beverages, generating around £9.2m in annual rent with a WAULT of 5.5 years to expiry.

Alexa Baden-Powell, Head of Investment at GPE, commented: “With the offices now fully let and our business plans complete, the sale of Wells & More further demonstrates our ability to recycle capital at the right point in the cycle, delivering strong investment returns while enabling us to reinvest the proceeds across both our acquisition and development pipelines.”

With the deal neatly tied up, Feldberg expands its London office holdings, while GPE turns its attention to redeploying capital.

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