B&C helps with Great Portland Estates' £350m Rights Issue

28/05/2024

We’re delighted to have helped Great Portland Estates (GPE) with shareholder documentation for its fully underwritten 3 for 5 Rights Issue, raising £350m to capitalise on the compelling new investment opportunities in central London and increasing its available investment capacity to £450m.

The company said the Rights Issue would allow it to take advantage of attractive new acquisition and development opportunities emerging in central London and deliver attractive and accretive shareholder returns, adding: “ With prime office demand remaining robust, and current levels of vacancy remaining low, the Group expects market conditions to remain favourable and, looking forward, anticipates new office supply within London to tighten further alongside a growing sustainability-led bifurcation, underpinning future rental growth. GPE is well placed to take advantage of the market opportunity given its strong track record of disciplined capital management and accretive acquisitions, combined with its specialist development and refurbishment expertise, in-demand Flex offering and continued sustainability and customer focus.”

Thanks to our wonderful clients at A&O Shearman, BofA Securities, Deutsche Numis and J.P. Morgan Cazenove.

To find out how we can help ensure the success of your most prestigious fundraisings, chat with us today: hello@blackandcallow.com

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