Great Portland Estates (GPE) Q4 2026 TU earnings summary

Executive summary

• Achieved a record leasing year with £71 million let, 10.3% ahead of ERV for the year ended 31 March 2026.

• Signed 28 new leases and renewals in Q4, generating £24.4 million annual rent, with market lettings 15.8% ahead of March 2025 ERV.

• Completed largest office development at 2 Aldermanbury Square, 100% pre-let, and progressed capital recycling with £490 million in sales.

Financial highlights

• 88 new leases and renewals signed in the year, generating £70.9 million annual rent, 10.3% ahead of March 2025 ERV.

• Seven rent reviews settled in Q4, 49% ahead of previous passing rent and 11.1% ahead of valuers ERV.

• Two property sales completed in the year totaling £490 million, 2% ahead of March 2025 book values.

Outlook and guidance

• Entering the new financial year with positive momentum, further leasing under offer, and a strong pipeline of new space in production.