Great Portland Estates

Great Portland Estates plc is a British property development and investment company. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007.

Great Portland Estates plc
TypePublic
LSE: GPOR
IndustryProperty
Founded1959
HeadquartersLondon, United Kingdom
Key people
Richard Mully (Chairman)
Toby Courtauld (CEO)
Revenue£112.4 million (2019)[1]
£54.6 million (2019)[1]
£49.5 million (2019)[1]
Websitewww.gpe.co.uk

History

The Company was founded by Howard and Basil Samuel in 1959 to invest in properties originally developed by the Dukes of Portland.[2] It was first listed on the London Stock Exchange later that year.[3] It acquired the Ilex Estate in 1997.[4] In 2007 the Company converted into a real estate investment trust.[5]

In April 2018 it was announced that KKR would be taking up 57,000 square feet of space in the company's new office development in Hanover Square. The move will mark the biggest single deal in Mayfair for a decade.[6][7]

Operations

The Company is based in London and the great majority of its assets are in London. It mainly owns office buildings, with a smaller amount of retail property. The largest group of properties is in the Marylebone district of central London just to the north of Oxford Street, in and around Great Portland Street. The Company also owns properties in the West End such as the West side of Hanover Square[8] and in the City of London such as the Bloomberg Headquarters.[9]

At 31 March 2019 Great Portland Estate's property portfolio was valued at circa £2.0 billion.[1]

See also
Great Portland Estates' head office at Cavendish Square, London (the tall building on the left)

References
  1. "Annual Report 2019" (PDF). Great Portland Estates. Retrieved 3 March 2020.
  2. "Business - The Times". timesonline.co.uk. Retrieved 28 March 2015.
  3. "2010 - present - Great Portland Estates". gpe.co.uk. Archived from the original on 4 March 2012. Retrieved 28 March 2015.
  4. "Great Portland offers £96m for Pollen Estate". Property Week. Retrieved 28 March 2015.
  5. "Best may be over in dash by companies to convert to REITs". Retrieved 9 April 2016.
  6. Burke, Tim. "KKR lets new London headquarters over Bond Street Crossrail station". Retrieved 2018-04-24.
  7. "KKR to invade Mayfair with new London headquarters". Evening Standard. Retrieved 2018-04-24.
  8. "Hanover Square - London Masterplan - e-architect". e-architect. Retrieved 9 April 2016.
  9. "Great Portland Estates hikes rents; warns of Brexit". FT. 10 February 2016. Retrieved 9 April 2016.
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