Great Portland in talks with Clifford Chance about potential pre-letting

Great Portland Estates is in talks to pre-let its Aldermanbury Square development to magic circle law firm Clifford Chance.

The FTSE 250 property developer confirmed it was in "advance negotiations" with the UK-headquartered international City firm about a "potential, significant pre-letting" at 2 Aldermanbury Square in London, EC2.

It did not provide any further details, other than to note there was currently no certainty of an agreement being reached, nor what the terms would be.

GPE received planning permission in July last year to redevelop City Place House, as 2 Aldermanbury Square was then known, including a new 13-storey, 321,100 sq ft office-led building. GPE confirmed last month that demolition had started.

Should terms be agreed, it could see Clifford Chance - a specialist in banking and finance - returning to the City after it quit offices close to Aldermanbury Square in 2003 for Canary Wharf.