Great Portland Estates' joint venture sells London Property
27th Apr 2015 09:26
Property investment group Great Portland Estates said its joint venture with Aberdeen Asset Management has sold its property at 95 Wigmore Street in London. The FTSE 250 group said that The Great Wigmore Partnership had sold the property, which comprises of 98,800 sq ft of newly constructed office a
Read moreGreat Portland Estates completes acquisition of remaining Starwood Capital JV
24th Apr 2015 10:39
Property development group Great Portland Estates has acquired full ownership of the Great Star Partnership joint venture for £61.4m from investment company Starwood Capital . The company said it will redeem the £73.1m in outstanding debt secured against the office properties owned by the joint vent
Read moreThursday broker round-up
19th Mar 2015 15:59
Smiths Group: Charles Stanley downgrades to reduce while Nomura reiterates buy recommendation. Weir Group: Barclays reiterates equalweight and 1,700p target. Prudential: Barclays reiterates overweight and lifts target to 1,868p. Serco: Jefferies reiterates hold but trims target to 185p from 195p.
Read moreLondon pre-open: Subdued start expected ahead of economic data
4th Mar 2015 07:38
After closing at their worst level in nearly two weeks, UK stocks are expected to rebound on Wednesday, albeit only slightly, as investors await key economic data. City sources predict the FTSE 100 will open around five points higher than Tuesday's close of 6,889.13. This was the index's worst finis
Read moreGreat Portland Estates strikes pre-let deal with New Look Retailers worth £3.65m a year
4th Mar 2015 07:16
Great Portland Estates (GPE) has pre-let a new retail store to clothing brand New Look Retailers. Completion of the development is expected in April 2017 when New Look will take on a 20-year lease at the price of £3,650,000 per year. New Look will move into the 31,800 sq ft space across basement, gr
Read moreSector movers: Intu and British Land lead real estate stocks lower
18th Feb 2015 14:55
Real estate groups were among the worst performers in London on Wednesday with broker downgrades hitting shares of heavyweights Intu Properties and British Land. Shopping centre owner Intu fell 3% to 365.2p after analysts at Barclays lowered their rating on the stock from 'equal weight' to 'underwei
Read moreGreat Portland Estates rental and capital values continue growth in run up the general election
29th Jan 2015 12:13
Great Portland Estates continued along its trajectory of strong organic growth in both rental and capital values in the third quarter of its financial year. The company's portfolio value swelled by 5.2% in the three months to the end of December, with rental value growth up 3% and the value of
Read moreGreat Portland Lettings enjoys "successful" quarter due to strong lettings
15th Jan 2015 09:15
Great Portland Estates said it had a successful quarter to the end of December with 116,300 square feet of lettings. The company signed 20 new lettings for a combined rent of £6.3m with the investment lettings 4.9% ahead of March 2014 rental values. One of the lettings included the Walmar House in
Read moreBroker tips: Babcock, Johnson Matthey, Great Portland Estates
20th Nov 2014 13:07
Engineering support services group Babcock International's interims were "very solid", Investec analyst John Lawson said in a research note on Thursday. "The group continues to successfully replenish its order book (an ongoing challenge for any outsourcing group) and yesterday's announcement with re
Read moreCredit Suisse initiates coverage of Great Portland Estates at 'outperform'
20th Nov 2014 11:56
Credit Suisse believes property investment and development company Great Portland Estates is set to outperform its peer group over the next twelve months. Hence its decision to initiate coverage of the stock with an 'outperform' recommendation. While 'market timing' is hard for real estate investmen
Read moreFriday tips round-up: 3i, Great Portland Estates
14th Nov 2014 07:35
3i seems to have a knack for investing. This is good, given that it is a private equity company. Indeed, the shares performed well throughout the bout of volatility which ensued this past Autumn and are trading well above their net asset value of 358p. The company has reigned in costs to well below
Read moreGreat Portland Estates profits rise 16% in first half
13th Nov 2014 11:00
London-focused property group Great Portland Estates reported increased first-half earnings on Thursday with the value of its portfolio having grown 8.9% since March 31. Pre-tax profit increased 16% year-on-year to £21.0m in the six months to 30 September, driven by a 3.6% increase in rental value.
Read moreGreat Portland Estates sells New Fetter Lane site
10th Nov 2014 12:43
Great Portland Estates said on Monday it is selling its 151-year leasehold in 12/14 New Fetter Lane to TIAA Henderson Real Estate. The £165.8m sales reflects a yield of 4.5% and is part of the company's strategy of recycling capital out of assets. The site is still under construction, but the compa
Read moreGreat Portland Estates sells 125 apartments at Rathbone Square development
12th Sep 2014 08:13
Great Portland Estates (GPE) has agreed to sell 125 apartment at its Rathbone Square development in west London for £207.2m. The sale price reflects an average capital value of £1,856 square foot (sq ft) and a price range from £1,548 per sq ft to £2,624 per sq ft. The property was acquired from Roy
Read moreGreat Portland Estates delivers solid Q1
28th Jul 2014 14:30
Great Portland Estates reported a positive first quarter which saw its portfolio valuation rise 3.8%, driven in part by continued rental value growth of 1.9%. The value of the property investment and development company's properties climbed £101.4m to £2,796.4m during the period, largely thanks to
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