GPE Share Price (GPE)

.wealthoracle.co.uk/company-results

GPE delivered a for prime central London real estate, beating consensus on both NTA and earnings with a record-breaking leasing performance. EPRA NTA per share rose 6.1% to 524p with EPRA EPS up 63.5% to 8.5p, well ahead of company-compiled consensus at 523p NTA and 7.9p EPS. The portfolio was up 4.3% like-for-like to £3.0bn, offices +5.4%, prime offices ERV +7.2% and HQ developments revalued +22.2%. 88 new leases generated £70.9m of annual rent at 10.3% above March 2025 ERV, lifting the rent roll 46% LFL to £153.6m with a further 95% of organic growth potential identified. The contra-cyclical capital recycling delivered £490m of disposals at a 2.3% premium to book, with two accretive Fitzrovia acquisitions for £69m. A new £525m RCF signed at SONIA+105bps and Baa2 reaffirmed by Moody's give substantial firepower at 28.6% LTV. FY27 rental growth guidance of 4.0-7.0% (prime offices 4.0-8.0%) is unchanged, ROE on track to 10%+. NTA 524p vs 522-523p consensus (beat); EPRA EPS 8.5p vs 7.9p consensus (beat). BEAT.

.wealthoracle.co.uk/company-results

Despite NAV well ahead of current share price market seems unimpressed with these results.

A thoughtful and thorough assessment of GPE.

The continued wide discount to net asset value could attract a takeover or at least a share buy back strategy.

The quality of its property portfolio and top name tenants should command a better valuation than what we are seeing here.

Hi everyone. I have just published a blog on Great Portland Estates, which I am a shareholder in, and that may be of interest to people here. All feedback is very welcome, and as ever please DYOR. The blog can be found here: https://tbifund.wordpress.com/2026/04/08/great-portland-estates-gpe-ln-growing-property-earnings/

Looks like clean bill of health following independent lawyers and accountants review of unlawful conduct and bonus manipulation.

Quality property portfolio, very high occupancy rate and renewals and central London focus where people are returning to work in offices.

If and when interest rates fall this should get rerated. CEO been there 23 years so Hope succession planning has been sorted with the board.