Developer has 14 schemes in pipeline totalling 3.4m sq ft
Great Portland Estates’ pipeline of development work has risen to 3.4m sq ft, the developer said today.
In a trading update the firm said it was “making good progress” on plans for its 2.3 acre freehold Rathbone Place site, W1 expecting to submit a planning application in the first quarter of 2013. It said it was also continuing to prepare 20 St James’s Street, SW1 and Fetter Lane, EC4 for potential starts in the next year.
In addition it said it is in negotiations with a “preferred buyer” for its share of the 100 Bishopsgate tower scheme development. It said enabling work are almost complete on the scheme, which is jointly owned with Brookfield.
The firm has five committed schemes on site, a further three that can start within 12 months, and 14 more in total. At the time of its results in May its pipeline had been marginally smaller, at 3.3m sq ft.
The firm said the value of its portfolio had risen 8.2% over the last year.