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Great Portland Estates PLC - London-based office building developer and landlord - Completes sale of 1 Newman Street, W1, to Royal London Asset Management Property for a headline price of £250 million. This reflects a net initial yield of 4.48%, marginally ahead of the March 2025 book value. Hugh Morgan, director of Portfolio Management at Great Portland Estates, says: ‘The sale of 1 Newman Street marks the culmination of an exceptional journey for this redevelopment project. We’ve delivered a best-in-class office and retail building in the heart of the West End, and this transaction crystallises our returns while enabling us to reinvest the proceeds, including into the next phase of our exciting development pipeline.’
Current stock price: 343.00 pence each, down 0.8% on Monday morning in London
12-month change: up 3.6%
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