Great Portland announce major London developments

Property group Great Portland has confirmed that seven major London developments are in the pipeline in a confident trading update today.

Projects at Bishopsgate, Oxford Street, Wigmore Street, Walmar House, Regent Street, Hanover Square and Fetter Lane are all expected to be underway in the next two years.

Two further schemes have already started in the West End and the combined projects could lead to the construction of up to 1.6 million ft² of new floor space across the capital.

Great Portland has plans for a further 15 buildings which would bring the total programme of London building to 2.8 million ft² of new floor space.

Toby Courtauld, Great Portland chief executive, said: “With some strong acquisitions behind us, a first class development programme ahead of us and low financial gearing giving us plenty of capacity for further expansion, we look to the future with confidence.”