Great Portland Estates nets more office tenants in London

London landlord Great Portland Estates has racked up more tenants in the City and West End despite political uncertainty, the firm said on Thursday.

The developer agreed new nine lettings to companies including commodities giant Glencore in the quarter to June 30.

The deals will generate annual rent of £2.2 million, of which GPE’s share is £1.9 million.

A further 12 lettings are under offer totalling £3.7 million of rent per year.

Chief executive Toby Courtauld said: “The second quarter has started well with encouraging levels of enquiries from prospective occupiers.”

He added: “Whilst the current political uncertainties could lead to economic turbulence, we remain convinced of the long-term, enduring appeal of our capital city and its property markets to businesses and investors alike.”

GPE’s share buyback of up to £200 million is ongoing, but it continues to review the size and timing.

During the quarter GPE also completed on £9.2 million of residential sales.