Great Portland secures City Tower pre-lets for Great Portland stock
Published on 10/01/2026 at 09:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Great Portland Estates (ISIN GB00B01FLL16) secured City Tower pre-lets covering more than 4,300 sq ft on September 24, 2026, according to GPE. A further floor is under offer, and completion of the latest phase is planned for early 2027.
City Tower leasing passes 20,000 sq ft
The City Tower transactions follow earlier lettings that took leasing activity at the development to more than 20,000 sq ft in fiscal 2026. The latest phase will convert a further 38,000 sq ft into Great Portland's Fully Managed workspace offer, adding an enhanced arrival area, a gym, a lounge and a coffee bar.
For investors, the figures show how the company is using flexible office space to build leasing momentum before completion. The pre-lets also connect the project with growth businesses in software solutions and artificial intelligence, a tenant profile explicitly cited in the September 24 release.
Pre-lets support London development returns
The City Tower update follows Great Portland's completed 30 Duke Street St James's development. GPE said on September 3, 2026, that all office and retail space had been pre-let on completion, with average rents 6.70 percent above estimated rental value.
The 30 Duke Street project carried an anticipated development profit on cost of 37.10 percent and an ungeared internal rate of return of 30.50 percent. Those figures provide a useful comparison with City Tower: the newer project is still leasing ahead of early-2027 completion, while the St James's scheme had already reached full pre-letting.
Great Portland stock stays below yearly high
The GPE.L quote stood at GBp 311.00 on September 30, 2026 at 5:20 p.m. BST, versus a prior close of GBp 313.20, a minus 0.70 percent change. The 52-week range was GBp 270.00 to GBp 377.00, leaving the quote below the yearly high while the company continued to expand its managed-office pipeline.
Great Portland Estates at a glance
- Company: Great Portland Estates Plc
- ISIN: GB00B01FLL16
- Ticker: GPE
- Primary exchange: London Stock Exchange
- Market capitalization: GBP 1.3 billion (as of September 30, 2026)
- 52-week range: GBp 270.00-377.00 (as of September 30, 2026)
- Sector / Industry: Real Estate / Office REIT
- Index membership: FTSE 250
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