Overview
Great Portland Estates is a REIT focused on central London and on buildings they can improve. They have a detailed business plan for every property, defining the angles that they seek to exploit in order to create value.
The fund’s website can be found here.
Fundamentals
Price
Research History
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11 Mar 2024 12 min read
QuotedData’s Real Estate Monthly Roundup – March 2024
Real Estate Roundup Kindly sponsored by abrdn Performance data February’s biggest movers in price terms are shown in the charts below. It was another month of disappointing share price performance for the real estate sector, as the timing of the fabled interest rate cuts that could kick start a recovery in the sector remains unclear […]
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13 Dec 2023 15 min read
QuotedData’s Real Estate Monthly Roundup – December 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data November’s biggest movers in price terms are shown in the charts below. Property stocks bounced back in November after a difficult few months, with the median share price across the sector up 8.2%. Investor sentiment towards the sector improved as hopes that interest rates have hit […]
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19 Jul 2023 9 min read
QuotedData’s Real Estate Quarterly Review – Second Quarter 2023
Real estate quarterly report Kindly sponsored by abrdn Discounted indiscriminately Stubbornly high inflation in the UK has raised the prospect of higher for longer interest rates, with the base rate hitting 5.0% in the UK dashing any hopes of a recovery in commercial property values for the foreseeable future. This negative outlook was reflected in […]
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14 Jul 2023 12 min read
QuotedData’s Real Estate Monthly Roundup – July 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data June’s biggest movers in price terms are shown in the charts below. Sticky inflation in the UK and the Bank of England’s 0.5% hike in interest rates, which now sit at 5.0%, their highest level in 15 years, saw uncertainty return to the property market. The […]
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13 Jun 2023 15 min read
QuotedData’s Real Estate Monthly Roundup – June 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data May’s biggest movers in price terms are shown in the charts below. The property sector is a hotbed of merger and acquisition (M&A) activity as investors look to take advantage of the unloved sector and wide discounts to net asset values (NAVs). Higher than expected inflation […]
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16 May 2023 13 min read
QuotedData’s Real Estate Monthly Roundup – May 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data April’s biggest movers in price terms are shown in the charts below. Property stocks returned to positive territory in April after months of losses due to the impact of higher interest rates on valuations. The first signs of values stabilising are starting to feed through with […]
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25 Apr 2023 8 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2023
Real estate quarterly report Kindly sponsored by abrdn Headwinds mount up The headwinds facing commercial real estate continued to mount up in the first quarter of 2023, reflected in an 8.9% average share price fall across the sector. Already reeling from the impact of higher interest rates on valuations, the collapse of Silicon Valley Bank […]
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09 Mar 2023 15 min read
QuotedData’s Real Estate Monthly Roundup – March 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data February’s biggest movers in price terms are shown in the charts below. It was a mixed month in terms of share price performance for property companies, with a mean average share price fall of 0.3% across the sector. On the positive side, shopping centre behemoth Hammerson […]
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09 Feb 2023 7 min read
QuotedData’s Real Estate Monthly Roundup – February 2023
Real Estate Roundup Kindly sponsored by abrdn Performance data January’s biggest movers in price terms are shown in the charts below. 2023 started positively for the property sector, with a median average share price uplift of 1.3%. A gloomy economic outlook at the end of 2022 saw many property companies’ share prices fall to substantial […]
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24 Jan 2023 10 min read
QuotedData’s Real Estate Annual Review – 2022
Real Estate Annual Review Kindly sponsored by abrdn The year the rug was pulled out 2022 will be remembered as the year that the rug was pulled from under the property sector. Having benefitted from decades of low interest rates, which had fuelled debt-ladened deals and piqued the appetite of global investors looking for more […]
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07 Dec 2022 64 min read
QuotedData’s Economic and Political Monthly Roundup December 2022
Economic and Political Monthly Roundup Investment companies | Monthly | December 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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12 min read
QuotedData’s Real Estate Roundup – December 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data November’s biggest movers in price terms are shown in the charts below. Valuation declines in the property sector are starting to feed through in NAV announcements and interim results (see page 2) as higher cost of debt continues to put pressure on pricing. Having seen dramatic […]
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03 Nov 2022 8 min read
QuotedData’s Real Estate Roundup – November 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data October’s biggest movers in price terms are shown in the charts below. Having priced in a major write-down of portfolio valuations in the real estate sector, especially after interest rate expectations rocketed following the disastrous mini-budget at the end of September, the market seems to have […]
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07 Sep 2022 11 min read
QuotedData’s Real Estate Roundup – September 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data August’s biggest movers in price terms are shown in the charts below. AIM-listed small cap fund manager and investor First Property Group tops the list of best performing property companies in August. It was the only company to see a double-digit rise in its share price, […]
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15 Jul 2022 8 min read
QuotedData’s Real Estate Quarterly Review – Second Quarter 2022
Real Estate Quarterly Review Kindly sponsored by abrdn Storm clouds gather Fears that a perfect storm is brewing has weighed on the real estate sector. Central banks’ move to raise interest rates to curb spiralling inflation has stoked concerns that investors will turn away from real estate to less risky alternatives, such as bonds. Meanwhile […]
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07 Jul 2022 15 min read
QuotedData’s Real Estate Roundup – July 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data June’s biggest movers in price terms are shown in the charts below. There were only a handful of property companies that saw share price growth in the month of June as interest rate rises and concerns of an impending recession took hold. Top of the list […]
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10 Jun 2022 16 min read
QuotedData’s Real Estate Roundup – June 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data May’s biggest movers in price terms are shown in the charts below. A perpetual theme in the listed property sector over the last few years has been the persistent discount to net asset value that many companies’ share prices have traded on. Some have succumbed to […]
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12 Apr 2022 7 min read
QuotedData’s Real Estate Quarterly Review – First Quarter 2022
Real Estate Quarterly Review Kindly sponsored by Abrdn Value to be found in topsy-turvy market The first three months of 2022 have been full of significant events. Investor caution followed Russia’s invasion of Ukraine and put paid to a London-listed property company with a portfolio of Russian assets (see page 6 for details). The cost-of-living crisis […]
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06 Apr 2022 15 min read
QuotedData’s Real Estate Roundup – April 2022
Real Estate Roundup Kindly sponsored by abrdn Performance data March’s biggest movers in price terms are shown in the charts below. Property stocks generally rallied in March, perhaps due to the relative inflation hedge they can provide. There were two outliers in Dublin office specialist Hibernia REIT and small-cap South East of England landlord McKay […]
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09 Mar 2022 11 min read
QuotedData’s Real Estate Roundup – March 2022
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the charts below. The geopolitical uncertainty caused by the Russian invasion of Ukraine has hit markets hard. On the whole, the property sector suffered losses during February, but there were a few companies that saw […]
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04 Feb 2022 7 min read
QuotedData’s Real Estate Roundup – February 2022
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data January’s biggest movers in price terms are shown in the charts below. Perhaps reflecting optimism around the strength of the economy coming out of COVID restrictions, a shift to value stocks was triggered in January, with property generalists and retail-focused companies the beneficiaries. Hammerson […]
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06 Dec 2021 13 min read
QuotedData’s Real Estate Roundup – December 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the charts below. November ended under a cloud of uncertainty, with the discovery of the Omicron coronavirus variant threating a return of restrictions that have wreaked havoc in the property sector over the past two […]
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08 Nov 2021 8 min read
QuotedData’s Real Estate Roundup – November 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data October’s biggest movers in price terms are shown in the chart below. The best performing real estate funds in October were mainly sector specialists, however, the property generalists had a good month too, led by BMO Real Estate Investments. The company saw its share […]
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09 Sep 2021 9 min read
QuotedData’s Real Estate Roundup – September 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. Traditionally a quiet month, August was anything but for property companies. While takeovers, IPO activity and large investment deals dominated the headlines, Tritax Big Box REIT continued its impressive performance. After reporting […]
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06 Aug 2021 10 min read
QuotedData’s Real Estate Roundup – August 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data July’s biggest movers in price terms are shown in the chart below. It was no surprise that GCP Student Living topped the table for best performing property companies in July after it received a takeover bid 30% above its share price during the month. […]
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07 Jun 2021 14 min read
QuotedData’s Real Estate Roundup – June 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data May’s biggest movers in price terms are shown in the chart below. Unsurprisingly, St Modwen Properties saw a big rise in its share price in May having received a cash offer for the business (logistics developments and a housebuilding arm) from Blackstone, valuing it […]
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17 Dec 2020 12 min read
QuotedData’s Real Estate Roundup – December 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data November’s biggest movers in price terms are shown in the chart below. The eagerly awaited news of a successful vaccine candidate came at the start of November, boosting the stock market. Property companies that had seen their share price battered over the past eight […]
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10 Sep 2020 8 min read
QuotedData’s Real Estate Roundup – September 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. There were some interesting price rises during the month of August as investors’ search for returns took them to property companies that have seen their share prices severely depressed during the Covid-19 […]
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16 Jul 2020 7 min read
QuotedData’s Real Estate Quarterly Review – Q2 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments A polarised lens The covid-19 pandemic continued to wreak havoc in the real estate in the second quarter, but a polarisation of sectors and funds has started to become apparent. Companies focused on the retail, leisure and hospitality property sectors had already seen huge negative […]
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07 Feb 2020 9 min read
QuotedData’s Real Estate Roundup – February 2020
Real Estate Roundup Performance data January’s biggest movers in price terms are shown in the chart below. The sluggish start to the year for listed property companies is hardly surprising given they were coming off a high base after the “Boris-bounce” following the general election in December. Topping the list was Triple Point Social Housing […]
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30 Jan 2020 12 min read
QuotedData’s Real Estate Annual Review – 2019
Property’s alternative theory The year was dominated by political and economic uncertainty, with Brexit negotiations casting a shadow over the market and the general election adding a further layer of doubt for much of the year. For a market that is staunchly aligned with political and economic sentiment, listed property companies and REITs performed well, […]
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10 Dec 2019 15 min read
QuotedData’s Real Estate Roundup – December 2019
Real Estate Roundup Performance data November’s biggest movers in price terms are shown in the chart below. November saw a host of companies report interim and full year results with varying outcomes. CLS Holdings, which owns a diverse portfolio split between the UK, Germany and France, gave a positive trading update that outlined its capital […]
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11 Dec 2017 1 min read
QuotedData’s economic round up – December 2017
QuotedData’s economic round up – December 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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14 Jun 2017 1 min read
QuotedData’s economic round up – June 2017
QuotedData’s economic round up – June 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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07 Dec 2016 1 min read
QuotedData’s round up of views on the global economy – December 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. december-economic-and-political-roundup
News
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04 Sep 2025 2 min read
REIT Review: Real estate recovery hamstrung by weak economic outlook
A welcome base rate cut in August did little to prevent another mauling in the real estate sector, with an average 3.7% share price fall over the month. Gilt yields, and the five-year swap rate that is closely followed by the sector, widened on persistent inflation and rising public debt. Consequently, just a handful of […]
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01 Sep 2025 2 min read
Morning briefing: Gore Street Energy starts to refresh its board; HOME eyes return from suspension this year; plus RMII, GPE, DIVI, DORE, CORD, JUGI
Gore Street Energy Storage makes the first of four new non-executive director appointments having survived a challenge to its board last month and Home REIT promises all its long-delayed accounts will be published this year. Plus news from RM Infrastructure Income, Great Portland Estates, Diverse Income, Downing Renewables & Infrastructure and Cordiant Digital Infrastructure. Gore […]
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18 Aug 2025 4 min read
Morning briefing: Third Point sacks broker Deutsche Numis; HICL and Bluefield Solar sell £260m of assets; plus GRID, LAND, GPE, INPP & CGI
Deutsche Numis dismissed after criticising Third Point Investors’ treatment of shareholders in the Malibu Life acquisition; HICL Infrastructure sells £225m of assets to fund share buybacks, Bluefield Solar makes £38m of disposals to pension fund partners and Land Securities sells a £245m office block. International Public Partnerships has a new lead manager at Amber Infrastructure. […]
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07 Aug 2025 4 min read
Morning briefing: RIT Capital Partners sees best private equity returns in four years; plus RIII, ENRG, GSF, SYNC, FSFL, CGEO, SRE, GPE, OSEC
Half-year results from RIT Capital Partners (RCP) and Rights and Issues (RIII) and updates from other investment companies including Gore Street Energy Storage, VH Global Energy Infrastructure, Foresight Solar and Syncona. Private equity props up RIT’s half year RIT Capital Partners (RCP) battled against the weak dollar to deliver a 3.4% investment return in the six […]
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08 Jul 2025 2 min read
QuotedData’s morning briefing 8 July: UTG, SBO, CBA, CORD, LMS, INPP & PHP
Student accommodation provider Unite reiterates its annual earnings target despite a slowdown in bookings, Schroder British Opportunities invests in insurance broker JMG and Cuban property fund Ceiba pays money owed to Aberdeen, its former asset manager, and holders of its convertible bonds.
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06 Jun 2025 4 min read
London offices to stage remarkable comeback
‘Reports of my demise have been greatly exaggerated’ – so the famous Mark Twain quote goes. If office skyscrapers could talk, one could imagine these words echoing around central London. Having been on life support in the aftermath of Covid, best-in-class London offices have staged a remarkable recovery. A clean bill of health is alluding […]
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28 May 2025 2 min read
QuotedData’s morning briefing 28 May 2025 – SEIT, SDP, GPE, AJOT
In QuotedData’s morning briefing 28 May 2025: We also have: Stories you may have missed from yesterday:
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21 May 2025 2 min read
Prime London offices over the worst of it
Two London offices developers announced annual results today that reflect a changing in fortunes for the much-maligned sector. Great Portland Estates (GPE) posted a 3.6% uplift in the value of its portfolio to £2.9bn, with the offices portion up 4.3%. This contributed to a 4.4% increase in EPRA net tangible assets (NTA) to 494p over […]
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14 May 2025 3 min read
QuotedData’s morning briefing 14 May 2025 – MHN, HNE, CGT, LMP, GPE, PSH
In QuotedData’s morning briefing 14 May 2025: We also have: Stories you may have missed from yesterday
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02 Apr 2025 1 min read
QuotedData’s morning briefing 2 April 2025 – VIP, GPE, CRT
In QuotedData’s morning briefing 2 April 2025: Value and Indexed Property Income Trust (VIP) has formally entered the UK REIT regime, effective 1 April 2025. The move sees the company transition from investment trust status to that of a real estate investment trust (REIT), a change that brings with it a new tax treatment. The […]
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24 Mar 2025 1 min read
GPE adds West End redevelopment opportunity with £56m One Chapel Place deal
Great Portland Estates (GPE) has acquired the freehold of One Chapel Place, W1, through the purchase of Cypress Dynasty Limited, in a deal valuing the property at £56.0m (£985 per sq ft on proposed net internal area), reflecting a net initial yield of 4.4%. The 34,230 sq ft West End office building is fully let […]
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10 Mar 2025 1 min read
GPE lets 11,500 sq ft of fully managed office to Next in Fitzrovia
Great Portland Estates (GPE) has secured its largest fully managed deal to date, letting over 11,500 sq ft of fully managed space to the retailer Next at its newly refurbished 31 Alfred Place, WC1. The space has been let on a five-year term, ahead of ERV. Next has additional office space to complement their existing […]
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13 Feb 2025 2 min read
QuotedData’s morning briefing 13 February 2025 – AJOT, ESO, AERI, SSIT, GPE, HLCL, SCP
In QuotedData’s morning briefing 13 February 2025: AVI Japan Opportunity (AJOT) says that Andrew Rose and Thomas (Tom) Yoritaka have joined its board as new non-executive directors. Andrew is a Japanese speaker with over 38 years’ experience specialising in Japanese equities and held various senior roles at Schroder Investment Management, where he spent 11 years […]
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06 Feb 2025 2 min read
QuotedData’s morning briefing 6 February 2025 – JARA, DGN, IAT, TRIG, GPE, SRE, GRIO
In QuotedData’s morning briefing 6 February 2025: JPMorgan Core Real Assets (JARA) will return £33.7m to shareholders by way of a compulsory redemption of up to 34,753,090 shares at 97.0465p per share on 27 February 2025. For example, a holder of 10,000 shares will have 1,688 shares redeemed, and will receive £1,638 in cash. Although […]
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04 Feb 2025 1 min read
QuotedData’s morning briefing 4 February 2025 – MGCI, BNKR, SRE, GPE
In QuotedData’s morning briefing 4 February 2025: M&G Credit Income (MGCI) is convening a meeting on 27 February to approve the issue of up to 31,002,226 shares (20% of its issued share capital). The company has already issued 9.6m shares since its AGM in 2024 and was running out of room to issue more. [It […]
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13 Jan 2025 3 min read
QuotedData’s morning briefing 13 January 2025 – CRS, CORD, ESP, SERE, GPE, RESI
In QuotedData’s morning briefing 13 January 2025: AIM-listed Crystal Amber (CRS) has announced that the board of Morphic Medical Inc. has approved the conversion of its entire interest in convertible loan notes in Morphic, totalling US$25.4m and accrued interest of US$3.0m, into 194,358,367 common shares in Morphic. CRS says that these new common shares will […]
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10 Dec 2024 2 min read
QuotedData’s morning briefing 10 December 2024 – APAX, AGT, PCTN, GPE, UKW
In QuotedData’s morning briefing 10 December 2024: Apax IX Fund in which Apax Global Alpha Limited (APAX) is a limited partner, has announced the full sale of its minority co-control stake in AssuredPartners, a leading mid-market property, casualty and employee benefits insurance brokerage, to Arthur J. Gallagher & Co. This transaction is expected to deliver […]
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11 Nov 2024 2 min read
QuotedData’s morning briefing 11 November 2024 – SYNC, GPE, DPA
In QuotedData’s morning briefing 11 November 2024: Syncona’s (SYNC’s) portfolio company Autolus Therapeutics (Autolus) has announced that the US Food and Drug Administration (FDA) has granted marketing approval for AUCATZYL® (obe-cel) for the treatment of adult patients with relapsed or refractory B-cell precursor acute lymphoblastic leukaemia (r/r B-ALL). Autolus says that the approval was based […]
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29 Oct 2024 1 min read
QuotedData’s morning briefing 29 October 2024 – MUT, GPE, THRL, GIF
In QuotedData’s morning briefing 29 October 2024: Murray Income Trust (MUT) has a new, £30m (extendable to £50m) unsecured, three year multi-currency revolving credit facility with The Royal Bank of Scotland which will expire on 22 October 2027. CHF363,000, USD2.4m, EUR4.05m, NOK4.275m and DKK2.75m (equivalent to £6.1m in aggregate) has already been drawn down and […]
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12 Jun 2024 2 min read
QuotedData’s morning briefing 12 June 2024 – SOR, GPE, SHED, DGI9, BCPT
In QuotedData’s morning briefing 12 June 2024: Special Opportunities REIT (SOR) has pulled its proposed IPO after falling short of its target fundraise. The company had targeted a £500m raise to acquire commercial property at distressed prices. It had lined up three cornerstone investors for up to £114m, but still fell short of its minimum […]
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24 May 2024 3 min read
QD view – Signals turn green for real estate
Real estate is a cyclical market where timing is everything, and signals are starting to flash that the sector is primed to stage a recovery. Market data, company activity and macroeconomic events appear to be aligning to suggest that now is the time to invest in real estate. After months in the doldrums as values […]
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23 May 2024 3 min read
Great Portland Estates launches £350m rights issues
London office developer Great Portland Estates (GPE) has launched a fully underwritten 3 for 5 Rights Issue to raise £350m (£336m net of expenses) through the issue of 152 million new shares at a price of 230 pence. The issue price represents a 44.5% discount to the closing price of 414.6 pence on 22 May […]
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15 Apr 2024 1 min read
QuotedData’s morning briefing 15 April 2024 – HGT, SEED, CLI, GPE
In QuotedData’s morning briefing 15 April 2024: Hg Capital Trust (HGT) has announced a £21.3m investment into Focus Group, alongside other clients of Hg. Focus Group is one of the UK’s leading providers of essential business technology to small and medium enterprises (SMEs). Hg believes that the long-term trends in small business technology adoption mean […]
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11 Apr 2024 1 min read
QuotedData’s morning briefing 11 April 2024 – ONWD, AEIT, GPE, SERE
In QuotedData’s morning briefing 11 April 2024: Onward Opportunities (ONWD) says its NAV total return from IPO on 30 March 2023 to end December 2023 was 11.3%. This compares to a 3.7% fall in the value of the UK AIM All Share index. The company trades at a premium and raised more money last month, […]
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11 Mar 2024 1 min read
QuotedData’s morning briefing 11 March 2024 – SHC, GPE, ARTL
In QuotedData’s morning briefing 11 March 2024: Shaftesbury Capital (SHC) has completed the acquisition of 25-31 James Street, Covent Garden, London for £75.1m. The properties have a contracted rent of £3.9m and comprise 21,000 sq ft of lettable area, including 12,000 sq ft of retail and 9,000 sq ft of residential and office accommodation. The company says […]
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23 Jan 2024 1 min read
QuotedData’s morning briefing 23 January 2024 – USA, GPE
In QuotedData’s morning briefing 23 January 2024: Baillie Gifford US Growth Trust (USA) announced an update for the six months to November 30, 2023. The company’s share price and NAV returned 12.3% and 4.1% respectively. This compares with a total return of 7.9% for the benchmark US index. Since launch on 23 March 2018, to […]
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17 Nov 2023 3 min read
QD view – Positive inflation data to reignite real estate sector
The real estate sector got a boost from the lower-than-expected UK inflation figure that was released on Wednesday, which followed a similarly positive update on inflation in the US. The share prices of the London listed property stocks that we track (67 companies in total) were up 2.6% this week on average. November has been […]
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16 Nov 2023 2 min read
QuotedData’s morning briefing 16 November 2023 – BSIF, SYNC, PSH, GCL, NCYF, GPM, CYN, NRR, GPE
In QuotedData’s morning briefing 16 November 2023: Bluefield Solar (BSIF) reports that its NAV fell by 3.3p over the third quarter of 2023. The main contributing factors to this were slight underperformance in generation during the quarter, due to lower than expected irradiation, and advanced quarterly payments connected to corporation tax and the Electricity Generator […]
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05 Oct 2023 1 min read
QuotedData’s morning briefing 05 October 2023 – UTG, GPE
In QuotedData’s morning briefing 5 October 2023: The Unite Group (UTG) has provided a trading update and Q3 valuations. Rental growth was up 7.3% for the 2023/24 academic year, with a 99.7% occupancy rate (versus 97.9% for the prior year). The Unite UK Student Accommodation Fund property portfolio was valued at £2,929m, a 0.2% increase […]
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04 Oct 2023 1 min read
QuotedData’s morning briefing 4 October 2023 – RKW
In QuotedData’s morning briefing 3 October 2023: Rockwood Strategic (RKW) confirmed the resolution for a share sub-division was passed at its recent AGM. On 11 October 2023 this will result in each ordinary share of capital of the company being sub-divided into ten new ordinary shares. The aggregate value of the shareholdings will remain the […]
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04 May 2023 1 min read
Great Portland Estates buys two central London offices
Great Portland Estates has acquired two central London offices for redevelopment for a total of £53m. It has bought 141 Wardour Street, in Soho, for £39m (£1,156 per sq ft). The 33,717 sq ft building is currently vacant, has been stripped out and benefits from planning consent for a comprehensive refurbishment. The building is located […]
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16 Nov 2022 2 min read
Great Portland Estates secures its largest ever letting
Great Portland Estates has secured its largest ever letting – the 321,100 sq ft pre-let of its office development, 2 Aldermanbury Square, EC2, to international law firm Clifford Chance LLP. Clifford Chance has entered an agreement to lease the lower ground to twelfth floors, on separate 20-year leases, with options to break at year 15 […]
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04 Oct 2022 1 min read
Great Portland Estates sells City office at 3.85% yield in fillip for the market
Great Portland Estates (GPE) has exchanged contracts to sell 50 Finsbury Square, EC2, for £190m – in a fillip for the real estate market. The price represents a net initial yield of 3.85% – which reflects the continued strength of investor demand for prime office buildings despite economic woes. The 121,800 sq ft office, which […]
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17 Jun 2022 2 min read
QD view – riding out stagflation
The bad news just keeps mounting up and the economic outlook is getting gloomier. Inflation has shifted from being a post-COVID legacy to a global problem, while ominous economic predictions keep piling up. A fall in UK GDP was revealed this week and was followed by another interest rate hike by the Bank of England […]
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19 May 2022 2 min read
Great Portland Estates positive on office rental growth
London office landlord and developer Great Portland Estates says it expects positive rental growth over the next year as the supply of new offices are choked off by weaker sentiment and cost inflation. This coupled with a continued “flight to quality” offices by occupiers gives cause for a positive outlook, with the company giving a […]
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07 Feb 2022 1 min read
Great Portland Estates breaks record leasing year
In a lettings update, central London office owner and developer Great Portland Estates has announced it has broken its leasing record for the financial year to March 2022 – with almost two months to go. The group said that it had signed 460,900 sq ft of new lettings since the start of the financial year […]
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19 Nov 2021 1 min read
Great Portland Estates launches Social Impact Strategy
Great Portland Estates (GPOR) has, alongside the release of its interim results, launched a social impact strategy, which is describes as “Creating a lasting positive impact in our communities”. The four key pillars of the strategy are: Enabling healthy and inclusive communities Championing diverse skills and accessible employment opportunities Supporting the growth of local business […]
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05 Oct 2021 2 min read
QuotedData’s morning briefing 5 October 2021
In QuotedData’s morning briefing 5 October 2021: Following shareholder approval, BioPharma Credit (BPCR) is transferring to a listing on the Official List of the Financial Conduct Authority and to trading on the Premium Segment of London Stock Exchange’s Main Market. It has also created a sterling line of stock – ticker BPCP – which will […]
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16 Jul 2021 2 min read
QD view – defining future fit offices
There has been an awful lot of conjecture surrounding the future of the office and not of lot of data on which to pin anything on. Well, that seems to be changing as some of the big London developers update the market on recent activity and letting brokers’ deal flow data start to reveal trends. […]
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08 Jul 2021 2 min read
Great Portland Estates reports momentum in London office market
Great Portland Estates signed lettings worth £12.7m of new annual rents in three months to the end of June, with further £14.9m under offer, it said in a trading update. The central London office developer’s chief executive Toby Courtauld said momentum was building. The new lettings, which included £8.0m of retail space, were 9.3% ahead […]
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19 Mar 2021 3 min read
QD view – property one year on from lockdown
Tuesday next week will mark a year to the day that Boris Johnson announced the UK would go into full lockdown in a bid to curb the COVID-19 pandemic. It seems unbelievable that a year later we are still in a lockdown. The successive lockdowns have hugely impacted the property sector – mainly negatively (as […]
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14 Jan 2021 1 min read
London office landlords update on rent collection
Central London office landlords Great Portland Estates and Helical have reported rent collection figures for the first quarter of 2021. Great Portland Estates The company has received 69% of rent due, which it said increases to 77% when the £2.1m of rent deposits it anticipates to utilise are included. As expected, its main issue has […]
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04 Dec 2020 1 min read
Great Portland Estates lets three floors at The Hickman, E1
Great Portland Estates (GPE) has announced it has let 17,700 sq ft of office space at The Hickman development at 2/4 Whitechapel Road, E1 to Four Communications Group Limited (Four), an integrated marketing and communications agency. Four will occupy the offices on the fifth, sixth and seventh floors at The Hickman on ten-year leases (with […]
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20 Nov 2020 2 min read
QD view – The valuation game
Commercial property valuation has been a bone of contention for years. It is generally accepted that valuers are slow to react to changes in the sector. Just look at the recent history of retail valuations. Despite clear evidence that rents were falling due to the impact on retailer demand for space caused by a boom […]
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11 Nov 2020 2 min read
Great Portland Estates forecasts London rents to fall by 5%-10%
London office owner and developer Great Portland Estates said it expects rental values to fall by between 5% and 10%. Chief executive Toby Courtauld said rising unemployment due to the impact of COVID-19 will mean “rents and capital values in London will fall further”. The group gave the guidance as part of half-year results to […]
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16 Oct 2020 2 min read
QD view – Rent collection nuggets
Fourth quarter rent collection figures have been coming in thick and fast over the past week or so and overall they show a general improvement on collection rates during the COVID-19 pandemic. There are a few nuggets to come from the announcements so far. The first thing to say is that collection rates have improved […]
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12 Oct 2020 1 min read
London office landlords reveal rent collection figures
Central London office developers and owners Great Portland Estates and Helical have announced rent collection levels for the final quarter of 2020. Great Portland Estates Great Portland Estates, which has developed and owned some of the best located offices in the capital, has received 65% of rent due for this quarter. The majority of the […]
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28 Aug 2020 2 min read
Working from home or back to work?
The debate around the future of the office continues to rage. It was reported today that the government is likely to set about on a campaign to get people back to the office. If the economy is going to bounce back quickly, cities like London, Manchester and Birmingham buzzing with office workers will certainly help. […]
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20 Aug 2020 1 min read
QuotedData’s morning briefing 20 August 2020
In QuotedData’s morning briefing 20 August 2020: Great Portland Estates is issuing £150m of new unsecured US private placement notes. The Sterling denominated notes cover 12 year and 15 year maturities (weighted average of 14.5 years) and have a weighted average fixed rate coupon of 2.77%. The new issue priced on 5 August and, subject to […]
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10 Jul 2020 1 min read
Great Portland Estates taps into deposits to collect 69% of rents
Great Portland Estates (GPOR) has collected 69% of rents for the current quarter, and in doing so has tapped into rent deposits. The London office developer said collection figures were at 58% excluding deposits. From its office portfolio it had received 74% and from its associated retail/hospitality units it had collected 28%. The group had […]
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20 May 2020 1 min read
Great Portland Estates posts strong results
Great Portland Estates has posted a 1.8% rise in net asset value (NAV) in full year results to the end of March 2020. The central London office developer reported an EPRA NAV per share of 868p. Its portfolio valuation was stable, with a slight decrease of 0.3% to £2,624.1m. The increase in NAV was due to […]
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1 min read
Great Portland Estates lands major West End office pre-let
Great Portland Estates (GPOR) has secured a 40,000 sq ft pre-let at its office development on Oxford Street. The deal is a significant boost to the central London office market as fears around a drop off in demand for office space mount amid the coronavirus crisis. GPOR has signed up Exane BNP Paribas, which will […]
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01 May 2020 2 min read
The end of the office? No sirree
How the real estate sector adapts to a ‘new normal’ following covid-19 could have huge implications for listed property companies. QuotedData has reported on the likely effects on the retail and logistics sectors as well as the impact on valuations. One of the biggest unknowns, however, is the outlook for the office sector. This week […]
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09 Apr 2020 2 min read
Will lenders be sympathetic to the plight of property companies?
As another week of lockdown comes to an end, property companies continue to update the market on the impact on their businesses. The latest slew of rent collection updates reveal that it isn’t just the retail, leisure and hospitality sectors that have been hit. Almost all companies have seen an impact on income (apart from […]
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03 Apr 2020 2 min read
Great Portland Estates trading update and COVID-19 impact
Great Portland Estates (GPOR) has published a trading update and summary on the impact of COVID-19 on the business to date. Summaries of the key takeaways are provided below. COVID-19 update GPOR is supporting our occupiers, particularly in the retail, hospitality and leisure sectors, through agreeing on a case by case basis the payment of […]
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1 min read
QuotedData’s morning briefing 3 April 2020
In QuotedData’s morning briefing 3 April 2020 Trump tried to talk up the oil price with news of a Saudi/Russia meeting. It seemed to work but Russia denied all knowledge. In light of the COVID-19 restrictions, Hammerson shareholders will no longer be able to attend its AGM on 28 April 2020 and are instead encouraged to […]
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10 Jan 2020 1 min read
Great Portland Estates sells Kurt Geiger-let office
Great Portland Estates has exchanged contracts to sell a central London office let to Kurt Geiger for £64.5m. The sale of 24/25 Britton Street, which is located in the City fringe area, to an overseas investor reflects a net initial yield of 4.07% and a capital value of £1,255/sq ft. It was also sold at […]
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14 Nov 2019 1 min read
Great Portland Estates posts strong half-year figures with earnings growth of 17.8%
Central London office developer Great Portland Estates announced earnings per share growth of 17.8% to 10.6p in strong half-year results. The company also revealed net asset value (NAV) growth of 1.8% to 868p per share, for the six months to the end of September. It posted portfolio valuation growth of 0.8%, rental growth of 1.0% (+1.4% offices, […]
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18 Sep 2019 1 min read
QuotedData’s other news 18 September 2019
In QuotedData’s other news 18 September 2019 – Standard Life Investments Property Income Trust (SLI) has announced its interim results for the six months ended 30 June 2019. During the period, SLI’s NAV total return was 2.7% for the period ended 30 June 2019, which was generated by like for like portfolio growth combined with profits […]
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1 min read
Great Portland Estates agrees flexible office partnership with Knotel
Great Portland Estates (GPE) has announced that it has agreed a 82,000 sq ft flexible office partnership arrangement with Knotel at City Place House, 55 Basinghall Street, EC2. Knotel will operate the space until the building’s redevelopment in December 2021 and, together, GPE and Knotel will share the revenue generated by the businesses in occupation. […]
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22 May 2019 2 min read
Developments beneficial for Great Portland
Developments beneficial for Great Portland – Great Portland Estates has announced results for the year ended 31 March 2019. Highlights are: EPRA NAV per share of 853 pence, up 1.0% over twelve months; net assets of GBP2,309.7 million EPRA earnings of GBP53.7 million, down 19.2% on 2018 following GBP348.9 million of asset sale EPRA EPS […]
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21 Jun 2017 1 min read
Great Portland buys an acre of Whitechapel
Great Portland buys an acre of Whitechapel – Great Portland Estates plc has acquired the freehold of land and buildings including Cityside and Challenger House, 40/42 Adler Street and 2/8 Whitechapel Road, London E1 from Hermes Investment Management, for GBP49.6 million (GBP320 per sq ft). The 1.1 acre site sits between Aldgate to the west and […]
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25 May 2017 6 min read
TR Property plans 25.7% dividend increase
As TR Property announces its full year results for the year ended 31 March 2017, Hugh Seaborn, its chairman, commented: “I’m pleased to report another solid year of performance from the Trust. The Board are particularly pleased to announce a final dividend of 6.4p which brings the full year dividend to 10.5p, a 25.7% increase on […]
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24 May 2017 3 min read
Great Portland Estates – London one of only a handful of truly global cities
Great Portland Estates results for the year to 31 March 2017 have been released and, while NAV fell, earnings were up. The chief executive acknowledges the short-term challenges facing the capital but says that, in the long-term, London is one of only a handful of truly global cities. Valuation lower – driven by yield expansion in […]
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23 Jun 2016 3 min read
Brazil’s woes knock Hansa
Hansa Trust, which has published results for the year ended 31 March 2016, says it has had a challenging year, particularly due to its exposure to the Brazilian market and the economic woes that Brazil continues to face. However, there have been a number of bright spots within the portfolio. The NAV has fallen from 1138.6p […]
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25 May 2016 1 min read
Great Portland Estates working on largest development programme in its history
Great Portland Estates has reported results for the year ended 31 March 2016. At the end of March its EPRA NAV per share was 847 pence (pre-SDLT increase: 857 pence), up 19.5% in the year. EPRA profit before tax for the year was GBP47.8 million, up 6.0% on 2015. this translates into EPRA earnings per […]
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2 min read
TR Property outperforms as direct portfolio returns almost 20%
TR Property has announced results for the year ended 31 March 2016. The NAV rose 8.2% which was well ahead of the benchmark rise of 5.4%. However the share price total return was -1.6%. The Directors have announced a final dividend of 5.20p per share, a 9.5% increase over the prior year final dividend. This […]
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11 Nov 2015 1 min read
Great Portland Estates NAV rises 14% during H1, PBT up 15.7%
Great Portland Estates has announced its interim results for the six-months ended 30 September 2015. During this period, the company’s EPRA NAV per share has increased 14% to £8.08. The company’s EPRA profit before tax of £24.3m for the period is up 15.7% year-on-year whilst its EPRA EPS of 6.9p is an increase of 16.9%. […]
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20 May 2015 1 min read
High development weighting holds back income at Great Portland
Great Portland Estates’ results for the year ended 31 March 2015 show a 24.6% uplift in its EPRA NAV as the property portfolio delivered underlying capital growth of 18.0% with a total property return of 21.5%. This in turn was driven by falling yields. Including rent from pre-lets and leases currently in rent free periods, the […]
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27 Apr 2015 1 min read
Great Portland sells 95 Wigmore Street
Great Portland has announced the sale of 95 Wigmore Street to UBS Global Asset Management for £222.4m. Great Portland owned the building in conjunction with Aberdeen Asset Management through a 50:50 joint venture. The sale price works out at a net equivalent yield of just 3.4% or £2,209 per square foot. The 98,800 sq. ft. […]
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20 Feb 2015 1 min read
Stock selection helps JPMorgan Mid Cap to a great H2 for 2014
JPMorgan Mid Cap has announced interim results for the six months ended 31 December 2014 that show the fund delivering a total return on net assets of 9.6% – well ahead of the FTSE Mid 250 Index which returned 3.2%. The return to shareholders was 9.2%. the interim dividend has been increased by 45%, from […]
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11 Dec 2014 1 min read
Great year for Henderson European Focus
Over the year to the end of September 2014, Henderson European Focus Trust’s net asset value total return was 14.5% – well ahead of the return generated by its benchmark, the FTSE World Europe ex UK Index. Shareholders did even better, with a return of 19.3%. It even beat its peer group by a significant […]
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13 Nov 2014 1 min read
Development activity drives NAV growth at Great Portland
GPOR : Development activity drives NAV growth at Great Portland Great Portland Estates reported an 11.8% uplift in its EPRA net asset value for the six months ended 30 September 2014 on the back of an 8.9% uplift in the value of the portfolio. earnings per share were up 11.3% to 5.9p and from this they […]
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10 Nov 2014 1 min read
Great Portland Estates sells 12/14 New Fetter Lane
GPOR : Great Portland Estates sells 12/14 New Fetter Lane Great Portland Estates is selling its leasehold interest in 12/14 New Fetter Lane (London EC4) for £165.8m. The sale price works out at a yield of 4.5%. The 142,500 sq ft office building is still under construction (supposed to be finished in Q4 2015) and […]
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12 Sep 2014 1 min read
Rathbone Square flats selling fast
GPOR : Great Portland says its Rathbone Square flats selling fast Great Portland Estates has sold 125 of the available 142 apartments it is building at Rathbone Square W1 (the former post office sorting depot). The 125 flats sold to date have raised £207.2m for the company. The average selling price equates to £1856 per […]
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21 May 2014 1 min read
Great Portland Estates : GPOR – results
Over the year to end March 2014, Great Portland Estates saw its EPRA NAV rise by 27.6% to 569p. Properties were revalued upwards by 18.7% – the bulk of this return came from the profit generated by their developments (95 Wigmore Street, City Tower EC2 and 240 Blackfriars Road were all completed during the year). […]
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30 Jan 2014 1 min read
Great Portland Estates : GPOR – q3 numbers
Great Portland Estates reports a 5.8% uplift in the portfolio valuation over the final quarter of 2013 driven by an 8.2% uplift in the valuation of development properties and rental growth of 1.3%. This helped drive an 8.2% uplift in the EPRA NAV to 527p. Vacancy rates across the portfolio have fallen as they signed […]
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09 Dec 2013 1 min read
Great Portland Estates :GPOR
Great Portland Estates has sold its lease on 20 St. James’s Street (55,490sq ft office / retail building) for £54.5m. The property was acquired for £42.5m in 2010. It was producing a net rent of £1.2m per annum. GPOR will use the proceeds to invest in other projects.
