Great Portland Estates (GPE), the central London property company, has signed 40 new leases and renewals in the first half of its financial year, generating £19 million of annual rent at an average 4.1% ahead of estimated rental value.
Demand for its premium Fully Managed office space remained particularly strong, with 23 such leases secured at an average of £242 per square foot.
A further £9.8 million of rent is currently under offer, with market lettings running 6.7% ahead of estimated rental value.
GPE also completed its 30 Duke Street St James's development on time and on budget, with all office and retail space pre-let ahead of completion.
Chief executive Toby Courtauld said: "Despite a more volatile macroeconomic backdrop, demand for our premium spaces remains robust, with our Fully Managed offer performing particularly well.
"With high quality space increasingly scarce across our core central London markets, we are well positioned to maintain this momentum."
Moody's Ratings confirmed GPE's Baa2 long-term issuer credit rating and stable outlook following a periodic review in September.
Interim results are due on 19 November 2026.
