Great Portland Estates

Last updated
Great Portland Estates plc
Company type Public
Industry Property
Founded1959
Headquarters London, England
Key people
Richard Mully (Chairman)
Toby Courtauld (CEO)
RevenueIncrease2.svg £91.2 million (2023) [1]
Decrease2.svg £(158.5) million (2023) [1]
Decrease2.svg £(163.9) million (2023) [1]
Website www.gpe.co.uk

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.

Contents

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 2023 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) London College of Fashion, Oxford Street and 33 Cavendish Square.jpg
Head office at Cavendish Square, London (the tall building on the left)

Related Research Articles

<span class="mw-page-title-main">Mayfair</span> Area of central London, England

Mayfair is an affluent area in the West End of London towards the eastern edge of Hyde Park, in the City of Westminster, between Oxford Street, Regent Street, Piccadilly and Park Lane. It is one of the most expensive districts in the world.

A real estate investment trust is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping centers, hotels and commercial forests. Some REITs engage in financing real estate.

<span class="mw-page-title-main">Landsec</span> British real estate investment trust

Land Securities Group plc, trading as Landsec, is the largest commercial property development and investment company in the United Kingdom. The firm became a real estate investment trust (REIT) when REITs were introduced in the United Kingdom in January 2007. It is headquartered in London, England, and traded on the London Stock Exchange, and is a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">Public Storage</span> US international self storage company

Public Storage is an American international self storage company headquartered in Glendale, California, that is run as a real estate investment trust (REIT). It is the largest brand of self-storage services in the US. In 2008, it was the largest of four publicly traded storage REITs. There are more than 2,200 Public Storage self-storage locations in the US, Canada and Europe. It also owns 42 percent of an office parks subsidiary, sells packing supplies, and provides other services. As a REIT, it is owned by real estate investors, who receive more than 90 percent of the company's profits as a return-on-investment.

<span class="mw-page-title-main">Vornado Realty Trust</span> American real estate investment trust

Vornado Realty Trust is a real estate investment trust formed in Maryland in 1982, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.

<span class="mw-page-title-main">Segro</span> British real estate company

SEGRO plc is a British property investment and development company. It develops and invests in property located in the UK and Continental Europe focusing on edge of town flexible business space. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Crown American is an American privately-held company that owns one hotel and its headquarters building in Johnstown, Pennsylvania.

<span class="mw-page-title-main">Workspace Group</span>

Workspace Group plc is a real estate investment trust based in London, England. Founded in 1987 by the privatisation of property assets of the former Greater London Council, the company lets office, industrial and workshop space to small and medium-sized enterprises. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Crombie REIT is a Canadian unincorporated open ended publicly traded real estate investment trust which trades on the Toronto Stock Exchange and has an estimated market capitalization of $1.6 billion. The company is based in New Glasgow, Nova Scotia.

Shaftesbury Capital, formerly Capital & Counties Properties plc, (Capco) is a United Kingdom-based property investment and development company focused on sites in the West End of London. It is listed on the London and Johannesburg stock exchanges and is a constituent of the FTSE 250 Index.

<span class="mw-page-title-main">CapitaLand</span> Singaporean real estate organisation

CapitaLand is a real estate investment and management firm headquartered in Singapore.

<span class="mw-page-title-main">Hines Interests Limited Partnership</span> American privately held company that invests in and develops real estate

Hines Interests Limited Partnership is a privately held company that invests in and develops real estate.

<span class="mw-page-title-main">Prologis</span> American real estate company

Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities. The company was formed through the merger of AMB Property Corporation and Prologis in June 2011, which made Prologis the largest industrial real estate company in the world. As of December 2022, the company owned 5,495 buildings comprising about 1.2 billion square feet in 19 countries across North America, Latin America, Europe, and Asia. According to The Economist, its business strategy is focused on warehouses that are located close to huge urban areas where land is scarce. It serves about 6,600 tenants. Prologis began to expand its non-real estate business, Essentials, in 2022, offering customers solar power, racking systems, forklifts, generators, and EV charging infrastructure. and other logistics tech equipment for purchase.

Safestore is the UK’s largest and Europe’s second largest provider of self-storage. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Brightbay Real Estate Partners is a property investment business. It was listed on the London Stock Exchange as RDI REIT PLC, ticker symbol RDI. In May 2021, Starwood Capital Group acquired RDI REIT plc for £467.9M and it was reformed into Brightbay Real Estate Partners and remains a fully integrated Real Estate Investment Trust.

InvenTrust Properties Corp. is a real estate investment trust that invests in shopping malls. As of December 31, 2022, the company owned interests in 62 properties comprising 10.3 million square feet.

<span class="mw-page-title-main">NewRiver</span>

NewRiver REIT plc is a specialist listed real estate investment trust (REIT), focused primarily on retail and leisure property. The company owns 33 shopping centres, 25 retail warehouses, 14 high street units and over 700 public houses. The company is listed on the London Stock Exchange.

<span class="mw-page-title-main">Hibernia Real Estate Group</span>

Hibernia Real Estate Group Ltd, formerly called Hibernia REIT plc when it was a public real estate investment trust, is a real estate development firm headquartered in Dublin, Ireland. The company owns 32 properties in Dublin, and has a portfolio valued at €1.309 billion.

<span class="mw-page-title-main">Warehouse REIT</span>

Warehouse REIT is a property company which invests in the provision of warehousing. The company is listed on the London Stock Exchange.

References

  1. 1 2 3 4 "Annual Report 2023" (PDF). Great Portland Estates. Retrieved 12 February 2024.
  2. ↑ "Business - The Times". timesonline.co.uk. Retrieved 28 March 2015.
  3. ↑ "2010 - present - Great Portland Estates". 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.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.