Great Portland Estates (GPE) the FTSE 250 central London property investment and development company announced pre-tax profits (after revaluation surplus) of £507m for the financial year ended on 31st March 2015 (2014 : £422m). With net assets of £2.3 billion the Company is focused on generating returns from investing in and improving central London real estate. The company primarily operates in the commercial sector with most of its commercial assets based north of Oxford Street.
In his review, the Chief Executive of GPE commented on the strengthening of Central London’s property market resulting from economic growth, which in turn led to increased tenant demand along with record low vacancy levels. These factors are expected to be sustained over the next year in spite of the short-term uncertainty facing London as a result of the proposed EU referendum, concluded the CEO.
