Great Portland Estates
Encyclopedia
Great Portland Estates plc is a British
property development and investment company. It is listed on the London Stock Exchange
and is a constituent of the FTSE 250 Index
. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007.
in 1959 to invest in properties originally developed by the Dukes of Portland. It was first listed on the London Stock Exchange
later that year. It acquired the Ilex Estate in 1997.
In 2007 the Company converted into a real estate investment trust
.
and the great majority of its assets are in London. It mainly owns office buildings, with a smaller amount of retail property. The largest group of properties is in the Marylebone
district of central London
just to the north of Oxford Street
, in and around Great Portland Street
. The Company also owns properties in the West End
and in the City of London
.
At 31 March 2010 Great Portland Estate's property portfolio was valued at circa £0.8 billion.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
property development and investment company. It is listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
. The firm switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007.
History
The Company was founded by Basil SamuelBasil Samuel
Basil Samuel was the founder of Great Portland Estates, one the United Kingdom's largest property businesses.-Career:After training as an estate agent with J. Trevor & Sons, Basil Samuel went into partnership with his brother, Howard, in 1934. Together they started buying up properties in the West...
in 1959 to invest in properties originally developed by the Dukes of Portland. It was first listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
later that year. It acquired the Ilex Estate in 1997.
In 2007 the Company converted into a real estate investment trust
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
.
Operations
The Company is based in LondonLondon
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
and the great majority of its assets are in London. It mainly owns office buildings, with a smaller amount of retail property. The largest group of properties is in the Marylebone
Marylebone
Marylebone is an affluent inner-city area of central London, located within the City of Westminster. It is sometimes written as St. Marylebone or Mary-le-bone....
district of central London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
just to the north of Oxford Street
Oxford Street
Oxford Street is a major thoroughfare in the City of Westminster in the West End of London, United Kingdom. It is Europe's busiest shopping street, as well as its most dense, and currently has approximately 300 shops. The street was formerly part of the London-Oxford road which began at Newgate,...
, in and around Great Portland Street
Great Portland Street
Great Portland Street is a street in the West End of London. Linking Oxford Street with Albany Street and the busy A501 Marylebone Road and Euston Road, the road forms the boundary between Fitzrovia to the east and Marylebone to the west...
. The Company also owns properties in the West End
West End of London
The West End of London is an area of central London, containing many of the city's major tourist attractions, shops, businesses, government buildings, and entertainment . Use of the term began in the early 19th century to describe fashionable areas to the west of Charing Cross...
and in the City of London
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
.
At 31 March 2010 Great Portland Estate's property portfolio was valued at circa £0.8 billion.