Great Portland Estates plc (branded as GPE) is a British

property development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. R ...

and

investment company An investment company is a financial institution principally engaged in holding, managing and investing securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under the ...

. It is listed on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

and is a constituent of the

FTSE 250 Index The FTSE 250 Index ( "Footsie") is a capitalisation-weighted index consisting of the 101st to the 350th largest companies listed on the London Stock Exchange. Promotions and demotions to and from the index occur quarterly in March, June, Septemb ...

. The firm switched to

Real Estate Investment Trust A real estate investment trust (REIT) 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 cente ...

status when REITs were introduced in the United Kingdom in January 2007.

History

GPE was founded by Howard and Basil Samuel in 1959 to invest in properties originally developed by the

Dukes of Portland Earl of Portland is a title that has been created twice in the Peerage of England, firstly in 1633 and secondly in 1689. What proved to be a long co-held title, Duke of Portland, was created in 1716 and became extinct in 1990 upon the death of t ...

. It was listed on the

later that year. It acquired the Ilex Estate in 1997. In 2007 the company converted into a

real estate investment trust A real estate investment trust (REIT) 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 cente ...

. 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 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. ...

for a decade. Great Portland Estates was rebranded to GPE in November 2021.

Operations

GPE is based in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

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 Marylebone (usually , also , ) is a district in the West End of London, in the City of Westminster. Oxford Street, Europe's busiest shopping street, forms its southern boundary. An Civil parish#Ancient parishes, ancient parish and latterly a ...

district of

Central London Central London is the innermost part of London, in England, spanning several boroughs. Over time, a number of definitions have been used to define the scope of Central London for statistics, urban planning and local government. Its characteris ...

just to the north of

Oxford Street Oxford Street is a major road in the City of Westminster in the West End of London, running from Tottenham Court Road to Marble Arch via Oxford Circus. It is Europe's busiest shopping street, with around half a million daily visitors, and as ...

, in and around

Great Portland Street Great Portland Street in the West End of London links Oxford Street with Albany Street and the A501 Marylebone Road and Euston Road. A commercial street including some embassies, it divides Fitzrovia, to the east, from Marylebone to the west. ...

. The company also owns properties in the West End such as the West side of Hanover Square and in the

City of London The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London fr ...

such as the

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ma ...

Headquarters. At 31 March 2021 Great Portland Estate's property portfolio was valued at circa £1.9 billion.

References

External links

Official siteYahoo profile
{{Authority control Real estate investment trusts of the United Kingdom Property companies based in London Companies listed on the London Stock Exchange Real estate companies established in 1959 1959 establishments in England

History

Operations

See also

References

External links