Great Portland Estates set to offload £455m of assets

Gpe 160 old st

Chief executive says the London developer is considering selling long-dated assets over the next two years

GPE chief executive Toby Courtauld, who announced he was not in the market for acquisitions in the current economic climate at the group’s annual results this week, told Property Week the London developer was considering the sale of its long-dated assets over the next two years.

Courtauld would not expand on which assets it might sell, but according to the group’s annual results presentation, its long-dated assets total £455m in value and  have an average yield of 3.2% and unexpired lease of 11.2 years.

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