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Great Portland Estates PLC - London-based property company - Exchanges contracts to sell Challenger House, also known as Corner Hotel, in Whitechapel, east London, along with adjoining land, for £42.0 million to Yoomata Aldgate Property Ltd, a joint venture between Paris-based real estate firms Euragone Investment Management and Mata Capital. Sale price is marginally ahead of book value, Great Portland Estates says. Challenger House was originally acquired alongside the Hickman office building in 2017 for £49.6 million. GPE says sale proceeds will be reinvested into its development pipeline.
Current stock price: 329.50 pence, up 0.2% in London on Wednesday
12-month change: down 8.7%
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