GPE Boosts West End Footprint with £51m Acquisition of 10 South Crescent

The latest announcement is out from Great Portland Estates plc R.E.I.T. ( (GB:GPE) ).

GPE has expanded its West End portfolio with the £51 million acquisition of a 155-year leasehold interest in 10 South Crescent, WC1, a 72,605 sq ft office and retail building near Tottenham Court Road’s Elizabeth line station. The property, currently single-let for four more years at a significantly below-market rent, will be repositioned as a best-in-class, decarbonised headquarters and retail asset with enhanced amenities and roof terraces, offering scope for substantial rental reversion given nearby lettings above £125 per sq ft versus the current £67 per sq ft. The deal, bought at a net yield of 6.8% and a projected 7.1% once the vacant retail unit is let, reinforces GPE’s strategy of sourcing value-add repositioning opportunities in its core West End market, bringing the number of such acquisitions since its 2024 rights issue to six with an estimated total capital commitment of about £440 million at a sizeable discount to replacement cost, underlining its confidence in central London office demand and potential upside for shareholders.

The most recent analyst rating on (GB:GPE) stock is a Hold with a £341.00 price target. To see the full list of analyst forecasts on Great Portland Estates plc R.E.I.T. stock, see the GB:GPE Stock Forecast page.

Spark’s Take on GB:GPE Stock

According to Spark, TipRanks’ AI Analyst, GB:GPE is a Neutral.

Great Portland Estates plc’s overall stock score is driven by strong earnings call guidance and strategic corporate events, indicating positive future prospects. However, financial performance concerns, particularly in cash flow, and neutral technical indicators moderate the score. The stock’s undervaluation enhances its appeal, but economic challenges remain a consideration.

To see Spark’s full report on GB:GPE stock, click here.

More about Great Portland Estates plc R.E.I.T.

Great Portland Estates plc (GPE) is a UK real estate investment trust focused on owning, managing and repositioning prime office and retail assets in central London, particularly in the West End. Its portfolio includes Grade A headquarters and fully managed workspace in amenity-rich locations, with an emphasis on upgrading and decarbonising buildings to meet modern occupier demand.

Average Trading Volume: 853,785

Technical Sentiment Signal: Sell

Current Market Cap: £1.28B

See more data about GPE stock on TipRanks’ Stock Analysis page.