Great Portland Estates

Great Portland Estates plc (branded as GPE) 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

Type	Public
Traded as	LSE: GPE FTSE 250 component
Industry	Property
Founded	1959
Headquarters	London, England
Key people	Richard Mully (Chairman) Toby Courtauld (CEO)
Revenue	£88.5 million (2021)^[1]
Operating income	£(202.2) million (2021)^[1]
Net income	£(201.9) million (2021)^[1]
Website	www.gpe.co.uk

History

GPE was founded by Howard and Basil Samuel in 1959 to invest in properties originally developed by the Dukes of Portland.^[2] It was 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 GPE's new office development in Hanover Square. The move was the biggest single deal in Mayfair for a decade.^[6][7]

Great Portland Estates was rebranded to GPE in November 2021.^[8]

Operations

GPE 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^[9] and in the City of London such as the Bloomberg Headquarters.^[10]

At 31 March 2021 Great Portland Estate's property portfolio was valued at circa £1.9 billion.^[1]

See also

 

Head office at Cavendish Square, London (the tall building on the left)

• Minerva House
• 100 Bishopsgate

References

1. "Annual Report 2021" (PDF). Great Portland Estates. Retrieved 16 February 2022.
2. "Business - The Times". timesonline.co.uk. Retrieved 28 March 2015.
3. . 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. "Great Portland Estates brand evolves to GPE". Property Magazine. 19 November 2021. Retrieved 21 November 2021.
9. "Hanover Square - London Masterplan - e-architect". e-architect. Retrieved 9 April 2016.
10. "Great Portland Estates hikes rents; warns of Brexit". Financial Times. 10 February 2016. Retrieved 9 April 2016.

External links

• Official site
• Yahoo profile