GPE will continue with sale of assets

Great Portland Estates is planning to be a net seller for another two years, according to chief executive Toby Courtauld.

The sale of the assets, which GPE considers long-dated and at the end of what can be done to create additional value from them, could rake in around £455m for the firm over the next 18 to 24 months.

Courtauld said GPE would also be unlikely to buy any new assets, which he considers to be overpriced at present, but instead would invest in the assets it already holds, which “should create high rates of return”.