Great Portland Estates Acquires London Building for $24.3 Million

Dow Jones

2025/09/01

By Nina Kienle

Great Portland Estates said it acquired London's building The Gable for a total of 18.0 million pounds ($24.3 million) from the City of London Corporation.

The U.K. real-estate investment trust on Monday said it plans to substantially refurbish the 44,000 square-feet building, due to start in the third quarter in 2026.

Currently, the building it partially let on a short-term basis at an annual rent of 1.5 million pounds generating a net yield of 6.4%. Once refurbished, the development yield is expected to rise to 6.9%, it said.

"The Gable is a strong addition to this central London Flex cluster and reflects our commitment to expanding the Fully Managed portfolio to over 1 million square feet by 2030," Chief Executive Toby Courtauld said.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

September 01, 2025 02:32 ET (06:32 GMT)

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Once refurbished, the development yield is expected to rise to 6.9%, it said. \n</p>\n<p>\n  \"The Gable is a strong addition to this central London Flex cluster and reflects our commitment to expanding the Fully Managed portfolio to over 1 million square feet by 2030,\" Chief Executive Toby Courtauld said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Nina Kienle at nina.kienle@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 01, 2025 02:32 ET (06:32 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4223","symbol_name":"办公室房地产信托","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2564899388","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2564899388","pubTimestamp":1756708320,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Great Portland Estates said it acquired London's building The Gable for a total of 18.0 million pounds  from the City of London Corporation.The U.K. real-estate investment trust on Monday said it plans to substantially refurbish the 44,000 square-feet building, due to start in the third quarter in 2026.Currently, the building it partially let on a short-term basis at an annual rent of 1.5 million pounds generating a net yield of 6.4%. 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