GPT opens AUD 555 million project: what it means for GPT stock

Published on 10/07/2026 at 06:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

GPT stock gains 78,500 sqm of first-half leasing. FFO rose 5.00 percent to AUD 338.8 million in the first half of 2026.

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GPT opened its AUD 555 million 51 Flinders Ln office development in Melbourne on September 16, 2026, giving GPT stock a concrete leasing milestone. Markets Insider reported that Firmus Technologies and JCDecaux committed to space at the precinct on that date.

Leasing gives the project weight

The 51 Flinders Ln development combines a 14-level North Tower and a 39-level South Tower, delivering 27,500 square meters of A-grade office space. The project also includes 1,000 square meters of hospitality space and a pedestrian connection between Flinders Street and Flinders Lane, according to Markets Insider.

GPT had secured more than 78,500 square meters across its national office portfolio in the first half of 2026, including 19,800 square meters in Melbourne. The leasing figure gives investors a measurable operating indicator beyond the headline development value.

What the opening means for GPT stock

The latest reported operating comparison points to improving earnings power. For the six months ended June 30, 2026, funds from operations rose 5.00 percent to AUD 338.8 million, while statutory net profit after tax increased 21.60 percent to AUD 400.1 million, according to Kapitales Research.

The same interim review reported investment portfolio occupancy of 97.60 percent and like-for-like net property income growth of 5.80 percent. Office occupancy was 92.10 percent, making leasing execution in the office portfolio an important counterweight to the stronger group earnings figures.

Brisbane adds a second test

GPT is also expanding its value-add platform through a AUD 380 million Brisbane office acquisition. ShareTrader reported on September 15, 2026, that the partnership's deployment exceeded AUD 500 million since February 2026, while the 23-level tower was 95.50 percent leased. Financial close was targeted for November 2026 and remained subject to Foreign Investment Review Board approval.

On the ASX, GPT was quoted at AUD 4.53 at 3:27 p.m. AEDT on October 7, 2026. The quote was up AUD 0.06, or 1.34 percent, from the prior close of AUD 4.47; the market capitalization was AUD 8.7 billion, and the 52-week range was AUD 4.35 to AUD 5.75.

The further course of trading is shown by the continuously updated real-time quote of GPT stock.