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UK REIT owning and managing central London office and retail properties, focused on the West End.
UK REIT owning and managing central London office and retail properties, focused on the West End.
Earns rent from West End tenants and also makes money by refurbishing or redeveloping buildings to re-let at higher rents, so results depend on development timing as well as rental trends. As a REIT it must pay out most of its rental profit as dividends.
In one line: A UK office/retail REIT focused on prime central London.
Moat: narrow (scale, installed base, brand). Concentrated, high-quality West End portfolio built through decades of central London focus.
Headquarters: London, UK · Founded: 1959 · Employees: 164
Size Great Portland Estates (GPE.L) is a United Kingdom Real Estate company (Real Estate Investment Trusts) with a market value of $1.90B, the 166th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £348.20 on 6 Nov 2026.
Performance Over six months the shares gained 17.5%, against -10.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 24.4% over the last twelve months (peer median +4.0%); the operating margin is 20.9% (peer median 47.1%).
Valuation It trades at 34.7× forward earnings against a peer median of 17.6× (3rd most expensive of 21).
Next results Next results expected around 19 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £118M | £118M | £94.8M | £95.4M | £91.2M |
| Revenue growth | — | +24% | -1% | +5% | — |
| Gross profit | £67.8M | £67.8M | £58.0M | £60.5M | £57.2M |
| EBITDA | £25.5M | £25.5M | £20.4M | £19.4M | £21.6M |
| Net income | £154M | £154M | £116M | -£308M | -£164M |
| Free cash flow | -£31.3M | -£31.3M | -£4.60M | -£7.70M | £5.60M |
| Capital expenditure | £200,000 | £200,000 | £600,000 | £100,000 | £200,000 |
| Total debt | n/a | £878M | £935M | £816M | £527M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Great Portland Estates GPE.L | $1.90B | +17% | +24% | 21% | 34.7× | n/a |
| Derwent London DLN.L | $2.87B | +15% | +45% | 40% | 20.0× | n/a |
| Shaftesbury Capital SHC.L | $3.91B | +16% | +9% | 53% | 30.1× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GPE.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.8% | +1.9% | 2nd highest of 21 |
| 6-month return | +17.5% | -10.2% | 3rd highest of 21 |
| Distance from 52-week high | -7.6% | -18.4% | 5th highest of 21 |
| Revenue growth (TTM) | +24.4% | +4.0% | 5th highest of 21 |
| Operating margin | 20.9% | 47.1% | 4th lowest of 20 |
| Forward P/E | 34.7× | 17.6× | 3rd most expensive of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Great Portland Estates GPE.L | United Kingdom | $1.90B | +17% | +24% | 21% | 34.7× | n/a | n/a |
| Activia Properties 3279.T | Japan | $1.90B | -10% | +24% | 47% | 18.1× | n/a | n/a |
| Region RGN.AX | Australia | $1.89B | +6% | +30% | 45% | 14.4× | n/a | n/a |
| Getty Realty GTY | United States | $1.92B | -14% | +11% | 59% | 20.1× | n/a | n/a |
| RLJ Lodging Trust RLJ | United States | $1.92B | +40% | +1% | 10% | 700.2× | n/a | n/a |
| ARMOUR Residential REIT ARR | United States | $1.87B | -29% | -140% | n/a | 4.5× | n/a | n/a |
| Blackstone Mortgage Trust BXMT | United States | $1.85B | -42% | -2% | 36% | 9.2× | n/a | n/a |
| Xenia Hotels & Resorts XHR | United States | $1.97B | +26% | +4% | 8% | 36.9× | n/a | n/a |
| H&R Real Estate Investment Trust HR-UN.TO | Canada | $1.80B | -10% | -6% | 60% | 17.0× | n/a | n/a |
| Mitsui Fudosan Logistics Park 3471.T | Japan | $2.00B | -13% | +156% | 28% | 23.1× | n/a | n/a |
| Champion Real Estate Investment Trust 2778.HK | Hong Kong | $1.80B | -8% | -8% | 61% | 19.7× | n/a | n/a |
| BWP Trust BWP.AX | Australia | $2.01B | -2% | +2% | 87% | 19.2× | n/a | n/a |
| Charter Hall Long WALE REIT CLW.AX | Australia | $1.78B | +4% | +40% | 56% | 14.0× | n/a | n/a |
| Sekisui House Reit 3309.T | Japan | $1.78B | -23% | +5% | 20% | 13.9× | n/a | n/a |
| Aroundtown AT1.DE | Germany | $2.04B | -32% | +1% | 60% | 5.9× | n/a | n/a |
| Parkway Life Real Estate Investment Trust C2PU.SI | Singapore | $2.05B | 0% | +3% | 82% | 22.2× | n/a | n/a |
| Mitsui Fudosan Accommodations Fund 3226.T | Japan | $1.75B | -16% | +18% | 47% | 21.6× | n/a | n/a |
| Daiwa Office Investment 8976.T | Japan | $1.74B | -12% | +24% | 44% | 19.2× | n/a | n/a |
| Industrial & Infrastructure Fund Investment 3249.T | Japan | $2.07B | -12% | +36% | 37% | 16.8× | n/a | n/a |
| Eurocommercial Properties ECMPA.AS | Netherlands | $1.72B | -7% | +1% | 75% | 10.3× | n/a | n/a |
| HomeCo Daily Needs REIT HDN.AX | Australia | $1.71B | -2% | +4% | 75% | 13.3× | n/a | n/a |