1959

Great Portland Estates became a publicly quoted company and was brought to the market through a placing arranged by Barings as a result of which the entire property holdings of Basil and Howard Samuel (cousins of Lord Samuel of Land Securities) were acquired giving 41 properties valued at £5.5 million and profits of £225,000. Basil Samuel was the original Chairman and Managing Director (until his retirement in 1986).

1960s

In the 60’s the main component of growth was the development of buildings such as Knollys House, Croydon; 183/213 Old Street, EC1; Edmund House, 12/22 Newhall Street, Birmingham, together with the first refurbishments of 13/17 Moorgate, EC2 and 160 Great Portland Street, W1, both in 1968. In addition, in the late 60’s and early 70’s Great Portland Estates had joint companies with the Church Commissioners (developing flats and shops in W2), with Dorrington Investments dealing with residential break-ups, and with Higgs and Hill for some provincial office developments.

Richard Peskin joined the Board in 1968 (becoming Chairman and sole Managing Director in 1986 and non-executive Chairman in 2000).

1970s

The early ‘70s was a deliberately quiet period for the company in view of the secondary banking and property crisis, although 88/102 Bishopsgate, EC2 and 61 St Mary Axe, EC3 were developed in 1973 and 1979 respectively.

1980s

In the early 80’s, following a regearing with the City Corporation, 80 Bishopsgate, EC2 was redeveloped.

In the mid 80’s the company acquired Limco, which had a portfolio of London properties. The company also acquired from Abbey Life a portfolio of 6 office properties around the M25.

In the late 80’s the Group began a large development programme, including 21 Bloomsbury Street, WC1, Weybridge Business Park, Weybridge, Drury House, 34/43 Russell Street, WC2, 55 Drury Lane, WC2, 13/17 Moorgate, EC2, for the second time, 4/7 Chiswell Street, EC2, 38 Finsbury Square, EC2 and 33/34 Chancery Lane, WC2.

1990’s

In the early 90’s there was some diversification into retail and shopping centres with the acquisition of Recordhold and portfolios from Sears and Costain. Larger centres owned included The Harvey Centre, Harlow, Essex, The Octagon Centre, High Wycombe, Bucks, Charter Walk, Burnley and Queen’s Arcade Shopping Centre, Cardiff. In 1996 the second refurbishment of 160 Great Portland Street, W1 was completed and in 1997 the company purchased Ilex, which diversified the London portfolio further into Mayfair. Its principle properties were Clarendon House, 17/18 New Bond Street, W1 and Bond Street House, 15/16 New Bond Street, W1.

2000 – present day

In 2000 the Company decided on a programme of rationalisation to focus entirely on central London, whereby £285 million was returned to shareholders; as part of the process £100 million of 9.5% Debenture Stock 2016 was repaid and £52.4 million of 9.5% Convertible Unsecured Loan Stock 2002 redeemed.

In 2002, Toby Courtauld was brought in as Chief Executive.

In 2003 the Group acquired Met building, W1, as the forerunner of a near term development programme which comprised ten schemes with an estimated area on completion of almost 700,000 square feet.

Rationalisation of the portfolio continued, with virtually all non-London properties disposed of by 2004 and the Board returned a further 50p per share to shareholders.

Since 2004, the Group has created six joint ventures with joint venture partners Liverpool Victoria Friendly Society, Scottish Widows Investment Partnership, Capital & Counties, the BP Pension Fund, Brookfield Properties Corporation and Starwood Capital Group Global, LP.

The Group’s net assets per share as at 30 September 2011 is 378p.