Great Portland Estates plc has completed a Rights Issue, raising gross proceeds of £350 million ($447 million).
The funds are intended to capitalize on new opportunities in central London’s real estate market, particularly in the West End amid an investment-market disruption and a supply drought of high-quality spaces.
“The combination of the Capital’s disrupted investment market and the increasingly evident supply drought of high-quality spaces in our core market of the West End, means we are optimistic about the returns we can generate from both our £1.4 billion [$1.8 billion] pipeline of potential acquisitions and across our existing HQ and Flex offerings,” said Toby Courtauld, GPE’s chief executive.
