Great Portland Estates plc (“GPE”) announces that it has sold 160 Great Portland Street, W1 to 139 Westar House Marylebone Limited, part of the Alduwaliya Asset Management group. The headline sale price of £127.35 million, very marginally behind the March 2018 book value, reflects a net initial yield of 4.08% and a capital value of £1,328 per sq ft.
We deliver value by unlocking the often hidden potential in commercial real estate using our focused business model to reposition properties. When combined with the effective reading of the property cycle, in a market we know inside out, we aim to deliver long-term returns for shareholders. Explore results, presentations, share price and shareholder information here.
Our business is in great shape. We will continue to invest in our enviable portfolio to meet occupier demand and maximise organic growth for shareholders.Toby Courtauld Chief Executive, Great Portland Estates