Business
Great Portland Estates Trading Update
Great Portland Estates Trading Update.
About this update from Great Portland Estates Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3666V\n Great Portland Estates PLC\n 14 April 2021\n \n \n \n \n \n Press Release\n \n \n \n Press Release\n \n \n \n Press Release\n \n \n Press Release\n \n \n Press Release\n \n \n Press Release\n \n \n \n \n \n \n 14 April 2021\n \n \n \n Great Portland Estates Trading Update\n \n \n Great Portland Estates plc (GPE) today publishes its trading update for the quarter to 31 March 2021.\n \n \n \n \n \n Toby Courtauld, Chief Executive, said: \n \n \n \n \n \n \"The most recent COVID-19 lockdown has disrupted the activities of many businesses across London, resulting in a number of occupiers still being unable to meet their rental commitments. However, the ongoing vaccination programme and Government roadmap to easing lockdown restrictions is supporting renewed optimism, which we are seeing reflected in improved rent collection, greater letting activity and increased enquiry levels on available space. In particular, prime offices and best in class flexible spaces continue to be highly sought after and in relatively short supply, both trends which we expect to persist. Whilst the near term outlook will remain unpredictable, looking beyond COVID, we are confident that London will maintain its position as one of only a handful of truly global cities attracting businesses, capital and talent from around the world. \n \n \n \n \n \n \n In that context, we are \n \n \n well positioned. Our leverage is low, providing significant capacity for growth; our extensive development pipeline is set to deliver high quality, sustainable spaces that remain in high demand; across of our investment portfolio, we are delivering flexible, tech-enabled spaces that support the productivity and wellbeing of our customers; this, combined with the talents of our experienced team and strong culture, means that we have an exciting opportunity to deliver on all our ambitions.\"\n \n \n \n \n \n \n March quarter rent collection ahead of all four previous quarters\n \n \n · \n 82% of March rent collected to date including amounts covered by rent deposits; 78% excluding deposits (90% from office units; 44% from retail/hospitality/leisure sectors; 91% all other sectors) ahead of all four previous quarters at an equivalent date\n \n \n · \n 84% of rent for the year ended...