- Great Portland Estates
- 08 May 2026 12:33:24
Source: Sharecast
The broker said that recent data from estate agents Savills and CBRE provides "further optimism" about the outlook for London's office market.
"Savills reported 2.2m sq ft of office take-up in central London during Q1 2026 – an increase of +6% vs Q1 2025 with demand for prime office stock reaching a new record high," Shore Capital said, noting that recent leasing activity is being driven by fast-growing tech and AI companies.
"Around one-third of the space leased in Q1 was accounted for by pre-lets, with grade-A space representing 92% of total take-up - continuing to highlight the high level of ongoing demand for newer, best-in-class workspace," it added.
Great Portland's latest financial year ended 31 March was a record leasing year for the company, with "continued strong occupier demand for high quality office space in London’s West End", Shore Capital said. The company also managed to sell £490m of assets, as it continues to recycle capital from mature assets into its development pipeline.
"We are looking ahead with optimism to GPE reporting results for FY26F on 21st May with the latest market data providing further strong reassurance that, despite the current geopolitical uncertainty, occupier demand for high quality office space in London’s core West End remains undiminished," the broker said.