Latest news with #GreatPortlandEstates
Business Insider
27-05-2025
- Business
- Business Insider
Jefferies Reaffirms Their Hold Rating on Great Portland Estates plc R.E.I.T. (GPE)
In a report released on May 23, Mike Prew from Jefferies maintained a Hold rating on Great Portland Estates plc R.E.I.T. (GPE – Research Report), with a price target of p322.00. The company's shares closed last Friday at p325.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Prew is a 4-star analyst with an average return of 5.0% and a 56.58% success rate. The word on The Street in general, suggests a Hold analyst consensus rating for Great Portland Estates plc R.E.I.T. with a p321.71 average price target, representing a -1.01% downside. In a report released on May 12, UBS also maintained a Hold rating on the stock with a p330.00 price target.
Times
21-05-2025
- Business
- Times
London office rents reach record high in race for prime buildings
An 'unbelievable shortage' of new offices being built has pushed rents for the best workspaces in London up to record highs, and landlords expect prices to keep on climbing. Great Portland Estates, the London office developer, reckons rents at its prime buildings have risen by almost 8 per cent over the past year, and it expects them to go up by perhaps another 10 per cent over the coming 12 months. Landlords are profiting from booming demand for best-in-class bases at a time when there is not much prime workspace being built. GPE, for example, signed a record £38 million of new lettings last year. 'The supply side is unbelievably tight,' Toby Courtauld, chief executive of GPE, said. 'There is a significant drought of high-quality
Bloomberg
21-05-2025
- Business
- Bloomberg
Landlord GPE Anticipates Rent Surge on Supply Shortage
Landlord Great Portland Estates Plc expects London office rents to surge next year as a shortage of new development collides with robust demand for the best new space. The company upgraded its guidance for rental growth to as much as 7% across its portfolio and 10% for the best new space, according to a statement Wednesday. That's up from 3% to 6% for the year through March, a period in which it delivered overall rental growth of 5%.
Business Insider
14-05-2025
- Business
- Business Insider
UBS Sticks to Its Hold Rating for Great Portland Estates plc R.E.I.T. (GPE)
UBS analyst Zachary Gauge maintained a Hold rating on Great Portland Estates plc R.E.I.T. (GPE – Research Report) on May 12 and set a price target of p330.00. The company's shares closed yesterday at p321.50. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Gauge is ranked #4754 out of 9511 analysts. The word on The Street in general, suggests a Hold analyst consensus rating for Great Portland Estates plc R.E.I.T. with a p318.14 average price target. GPE market cap is currently £1.32B and has a P/E ratio of -33.63.
Business Mayor
12-05-2025
- Business
- Business Mayor
Plush city-centre offices are back in fashion
Unlock the Editor's Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The rise of remote working is transforming office markets, but not in the way investors might have expected. During the coronavirus pandemic, stark images of desolate city centres prompted warnings of a hollowing out, with traditional business districts empty while employees worked from home or from smaller local satellite offices. Five years on, the opposite is happening in cities like London: demand for prime central offices is surging, while those on the outskirts — or even just the slightly off-centre — are struggling. If companies are battling to lure staff into the office, it helps to make that office as convenient and attractive as possible — hence Great Portland Estates, for example, keeping more than 90 per cent of its portfolio within walking distance of London's Elizabeth line. The most high-profile illustration of the trend has been the stream of recent headlines about major companies abandoning Canary Wharf for the City of London. But it is not just a British phenomenon. Blackstone, the private equity group that owns €120bn worth of European real estate, says there are similar patterns across the continent. On average, rents in European central business districts have grown at more than twice the pace of non-CBDs over the past five years, according to Savills. In Milan, vacancy rates in the central business district were just 2.4 per cent in the first quarter, according to CBRE, compared with 11 per cent for the rest of the city. In Finland, Blackstone-owned Sponda reports a growing number of companies looking to relocate from the outskirts of Helsinki to the centre, a phenomenon that has helped drive prime rents up 14 per cent over the past year. Other investors are taking notice. The few commercial property deals that are getting done in the high interest rate environment are focused on major city centres. There were €26bn worth of office sales, financing or recapitalisations in European central business districts in the 12 months to March, according to MSCI data, up 25 per cent year on year. Outside of central business districts, in contrast, volumes fell 10 per cent to €20bn. Given the lack of new construction and the preponderance of long-term holders in many historic cities, the supply of quality buildings is likely to remain limited. That suggests rents can keep rising, and strengthens the argument that many listed property groups are undervalued. GPE trades at a 30 per cent discount to its book value despite focusing on precisely the sorts of buildings that are seeing the highest demand. Many of its peers around the UK and mainland Europe are trading at similar levels, like Derwent and Helical in the UK, or Covivio in France and Inmobiliaria Colonial in Spain. As workers go hybrid, so should investors — by sticking to those office properties that are best suited to a city-centre revival. An all-in bet on office real estate would be a high-risk move, because not all property companies are going to rebound. But that doesn't mean the whole industry needs a refurb.
