GREAT PORTLAND EST

Great Portland Estates completed 21 new and renewal leases in the quarter to 30 June, generating annual rents of £13.2m; the group’s share is £12.5m. Relettings were on average 3.7% above the March 2026 estimated rental values; Fully Managed contracts brought in £9.9m (+2.6%), Fitted contracts £1.6m (+10.3%) and Ready to Fit £0.8m (+7.8%). Deals include a retail lease with M.J. Bale at 30 Duke Street (the whole building is now fully let) and a reletting in Hanover Square with around a 65% rent increase; offers in excess of £3.5m have been received for further space. » More on de.investing.com

Great Portland Estates has completed lettings at the refurbished office building Nineteen Wells Street in London; six months after completion of the works all space is let or subject to offers. The building provides over five floors and more than 19,000 sq ft of space and achieves annual rents of £3.7 million at an average rent of £245 per sq ft, around 7.7% above the estimated rental value. Since acquisition the asset has delivered an unlevered internal rate of return of 20% and forms part of the company's Fitzrovia portfolio. » More on de.investing.com

Great Portland Estates signed leases with an annual rent roll of £70.9m during the financial year (88 new lettings and renewals), with new lettings on average 10.3% above the Estimated Rental Value (ERV) for March 2025. In the fourth quarter, 28 deals produced rent roll of £24.4m, 15.8% above ERV; deals included a pre-let of 52,300 sqft to Quantexa at Minerva House (The Delft). The company completed its largest development at 2 Aldermanbury Square, fully pre-let to Clifford Chance, and sold properties for £490m, around 2% above book value, including wells&more W1 for £172m (net initial yield 5%). » More on de.investing.com