{"id":69320,"date":"2023-10-06T03:02:28","date_gmt":"2023-10-06T07:02:28","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/great-portland-estates-rental-value-grows-on-new-contracts\/"},"modified":"2023-10-06T03:02:31","modified_gmt":"2023-10-06T07:02:31","slug":"great-portland-estates-rental-value-grows-on-new-contracts","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69320","title":{"rendered":"Great Portland Estates Rental Value Grows on New Contracts"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"MW-BT-CO-20231005-701860\" role=\"document\">\n<p>By Najat Kantouar<\/p>\n<pre><\/pre>\n<p>Great Portland Estates said its rental value increased driven by new leases and injection of extra funding.<\/p>\n<p>The London-listed property development and investment company said on Thursday that for the six months ended September 30 estimated rental value was 11.2 million pounds ($13.6 million) compared with GBP10.5 million for the same period a year earlier, as a result of 37 new leases and renewals signed in the first-half year.<\/p>\n<div class=\"paywall\">\n<p>Leases were signed on average 13.4% ahead of March&#8217;s estimated rental value.<\/p>\n<p>To support its development strategy, the company said it has acquired freehold interests in a headquarters development opportunity in Soho Square for GBP70 million, and progressed its development pipelines in the supply-constrained prime central London market.<\/p>\n<p>The company said it signed a new loan of GBP250 million reaching a total liquidity of more than GBP470 million to help the delivery of strategic priorities, including funding the group&#8217;s near-term development program.<\/p>\n<p>&#8220;Our clear focus on meeting this demand with our prime sustainable spaces and our market-leading levels of customer service, in core central London locations, means we are well placed,&#8221; Chief Executive Officer Toby Courtauld said.<\/p>\n<p>&#8220;In addition, with our recent debt financing further enhancing our significant financial firepower, we will continue to take advantage of market opportunities which we expect to unearth,&#8221; he added.<\/p>\n<p>Shares at 0833 GMT were up 5.0 pence, or 1.3% at 393.4 pence.<\/p>\n<pre><\/pre>\n<p>Write to Najat Kantouar at najat.kantouar@wsj.com<\/p>\n<pre><\/pre>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/great-portland-estates-rental-value-grows-on-new-contracts-9ec53277?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Najat Kantouar Great Portland Estates said its rental value increased driven by new leases and injection of extra funding. The London-listed property development and investment company said on Thursday that for the six months ended September 30 estimated rental value was 11.2 million pounds ($13.6 million) compared with GBP10.5 million for the same period [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-69320","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Great Portland Estates Rental Value Grows on New Contracts | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Najat Kantouar Great Portland Estates said its rental value increased driven by new leases and injection of extra funding. 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