(Alliance News) - Great Portland Estates PLC on Thursday hailed a "positive quarter" of leasing activity.
For the quarter that ended June 30, the London-based property developer and investor signed GBP6.0 million worth of new annual rent.
Market lettings were 2.6% higher quarter-on-quarter.
The firm said it had GBP9.5 million of further lettings under offer in the quarter.
Chief Executive Toby Courtauld said: "I am pleased to report continued positive activity over the first quarter with healthy leasing, excellent progress at 50 Finsbury Square, EC2, which is already 98% pre-let or under-offer, and the completion of our acquisition of 6/10 St Andrew Street, EC4 for our fully managed offer. The second quarter has started well with our customer first approach delivering encouraging levels of enquiries from prospective customers attracted to our brand of high quality, well-located space, more than 93% of which is within walking distance of an Elizabeth Line station.
"Whilst the current macro-economic backdrop is expected to be volatile in the short-term, we remain convinced of the long-term, enduring appeal of our capital city and its property markets to businesses and investors alike. With our clear strategic focus, strong balance sheet, opportunity rich portfolio and experienced team, we remain confident in our outlook."
Great Portland Estates shares were 1.9% higher at 601.00 pence each in London on Thursday morning.
By Tom Budszus; tombudszus@alliancenews.com
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