By Nina Kienle
Great Portland Estates said it secured 15 new leases and renewals in its third quarter, and confirmed a positive outlook.
The real-estate investment trust said Wednesday that the leases and renewals signed in the three months ended Dec. 31 would generate an annual rent of 9.0 million pounds ($11.1 million), with the lettings on average 16.3% ahead of March's estimated rental value.
For the first nine months of fiscal 2025, the company signed 19.5 million pounds of leases around 11.5% ahead of March's estimated values.
While current macroeconomic conditions are volatile, the outlook remains positive, Chief Executive Toby Courtauld said. Whilst investment markets remain muted, this will likely extend the window for accretive purchases, Courtauld said.
Full-year results are expected to be published on May 21, it said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
January 22, 2025 02:39 ET (07:39 GMT)
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