GPE Investor and Analyst Flex Office Session

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 ft1 

·    The Flex market is sizeable and growing: expected to be 50m sq ft by 20281 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 beat2

·    Flex will create income and valuation growth for GPE: +195% growth in NOI by 20283

·    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.

 

 

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 Murgatroyd                                                                                   

+44

(0)

20

7251

3801

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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