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Great Portland Estates portfolio value rises 3.8 percent in Q1
July 28, 2014 / 6:31 AM / in 3 years

Great Portland Estates portfolio value rises 3.8 percent in Q1

LONDON, July 28 (Reuters) - Property group Great Portland Estates said the value of its portfolio of assets in central London rose by a net 3.8 percent in the first quarter to 2.8 billion pounds ($4.8 billion), reflecting healthy demand for prime property.

Chief Executive Toby Courtauld said the company had made a strong start to its financial year, with good progress across its 2.3 million square feet development programme, including starting its largest ever development, Rathbone Square, at the east end of Oxford Street

“With a growing London economy and healthy demand for our limited quantity of available space, we can expect further rental and valuation growth which bodes well for our significant development programme,” he said on Monday. ($1 = 0.5888 British Pounds) (Reporting by Paul Sandle; editing by Kate Holton)

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