Great Portland Estates rental and capital values continue growth in run up the general election

Great Portland Estates continued along its trajectory of strong organic growth in both rental and capital values in the third quarter of its financial year.

The company’s portfolio value swelled by 5.2% in the three months to the end of December, with rental value growth up 3% and the value of development properties up by 9.6%.

Over 2014 as a whole, portfolio valuation rose 19.9%, with an EPRA net asset value per share of 680p on 31 December.

As the London economy continues to expand at a sustainable rate despite the looming uncertainty of the General Election, demand for office and retail space has remained stable.

Chief executive Toby Courtauld said in a statement: “Our outlook remains positive; we can expect higher rates of rental growth compared to last year; we will be increasing our development commitments during 2015, starting new schemes across central London; and the strength of our balance sheet will allow us to exploit our many portfolio opportunities to the full."