Next has signed a five-year lease to move into the newly refurbished 31 Alfred Place in Fitzrovia, London.
The retail giant will move in at the end of March and occupy four floors of the building, equivalent to 27% of the 42,000sq ft property.
Great Portland Estates (GPE) said the 11,500sq ft space will complement the retailer’s existing offices in the city.
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GPE senior leasing manager David Korman said: “We are delighted to have completed our largest ever fully managed deal with Next and look forward to welcoming them to the building later this month.
“The rapid and positive leasing at Alfred Place highlights the strong demand for our well-located, amenity rich, premium Fully Managed spaces, while also demonstrating the expanding appeal to larger corporates that may have initially sought a more traditional arrangement.”
The office expansion follows a period of strong sales for Next, which is expected to report a pre-tax profit of £1.01bn following a better-than-expected trading over the Christmas period.
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