Great Portland Estates plc (GPOR.L) reported that tenant interest in the limited amount of available space across its properties remained strong leading to 17 new lettings (34,900 sq ft) for the quarter to 30 June 2015, generating an annual rent of 2.4 million pounds and the Group's share of 2.4 million pounds. Great Portland Estates said the letting transactions concluded during the quarter have helped to the Group to maintain a low vacancy rate of 2.4% at 30 June 2015.
Toby Courtauld, Chief Executive, said: "London's economy continues to grow, supporting good levels of demand for the limited quantity of available office and retail space, particularly in our core West End market. As a result, our outlook remains positive: we can expect healthy tenant interest to generate both pre-lettings and higher rates of rental growth compared to last year; our expanded development programme will continue to deliver attractive returns for shareholders."
The company also announced that Andrew White and Marc Wilder have been appointed to the Group's Executive Committee as Development Director and Leasing Director respectively. Andrew joined the Group in 2013 as Head of Development and Marc joined the Group in 2005 as Leasing Manager and was appointed Head of Leasing in 2009.
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