Great Portland Estates Plc announced the acquisition of the long leasehold interest at 7/15 Gresse Street and 12/13 Rathbone Place, W1, for £36.5 million. The building has been home to the Fashion Retail Academy since 2005, which will remain in occupation until the precise timing for its relocation to a larger new home is confirmed. The building sits in the heart of Fitzrovia, less than 200 metres from the Elizabeth Line Tottenham Court Road, and provides 43,000 sq ft of space across five floors that require substantial upgrading to bring them in line with customer demands and GPE's net zero carbon commitments.