REG - Great Portland Ests. - GPE Investor and Analyst Flex Office Session

Great Portland EstatesAnnouncement

05/02/2024 10:00

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RNS Number : 0214C  Great Portland Estates PLC  05 February 2024

 

5 February 2024

 

 

GPE Investor and Analyst Flex Office Session

 

Great Portland Estates plc (GPE) recently held a Zoom Session providing a
deeper dive on our Flex office activities. The presentation highlighted that:

·    Flex is the default choice for sub 5,000 sq ft office space: 57% of
West End lettings are sub 5,000 sq ft(1)

·    The Flex market is sizeable and growing: expected to be 50m sq ft by
2028(1) in central London

·    The customer base is diverse & broader than just SMEs: 57%
customers expected to have 10%+ in Flex space by (2028)(1)

·    Customers are paying us a premium for hassle-free spaces: +103% net
effective rent beat(2)

·    Flex will create income and valuation growth for GPE: +195% growth in
NOI by 2028(3)

·    We have strong growth ambitions: 1m sq ft Flex portfolio

 

As a result, the provision of Flex space is increasingly a prerequisite for
maximising returns from smaller central London spaces.

 

A recording of the call is now available on our website:
www.gpe.co.uk/investors (http://www.gpe.co.uk/investors) .

 

 

1. CBRE, Instant Offices  2. GPE Fully Managed LTM    3. Committed Fully
Managed space by 2028

 Great Portland Estates plc                                                                                                                                                                                +44  (0)  20  7647   3000
 Toby Courtauld, Chief Executive
 Nick Sanderson, Chief Financial & Operating Officer
 Stephen Burrows, Director of Financial Reporting & IR

 FGS Global
 James                                                                                                                                                                                                     +44  (0)  20  7251  3801
 Murgatroyd
 Gordon
 Simpson

 

For further information see www.gpe.co.uk or follow us on Twitter at @GPE_plc

LEI Number: 213800JMEDD2Q4N1MC42

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