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GPE signs £20m of new leasing deals in Q1
(Sharecast News) - Property developer Great Portland Estates said on Thursday that "strong leasing momentum" experienced in FY25 had continued in Q126, with the group signing £20.6m of new leasing deals, 6.7% ahead of enterprise rental value. GPE said new deals included "a significant pre-let" of all the offices at its 30 Duke Street, St James's development, well ahead of both ERV and underwrite.
"This strong performance reaffirms our confidence in our rental value growth guidance of +4.0% to +7.0% for the financial year, with our prime spaces higher still," said GPE.
The FTSE 250-listed firm stated it was now "in an enviable position" to deliver "premium, sustainable spaces" into a market "starved of supply", which it anticipates will create "significant surpluses" that will further accelerate as the market strengthens.
"In this context, together with our deep and talented team, we are in great shape to deliver further value and income growth," said GPE.
Reporting by Iain Gilbert at Sharecast.com
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