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Nigel TAYLOR Published
October 5, 2025
A positive performance update from GPE on Thursday shows that demand for higher-end London retail locations remain buoyant.
“We are seeing healthy demand across our range of high quality, well-located spaces, signing up customers at rents comfortably ahead of March 2025 rental values,” said the property firm's chief executive Toby Courtauld covering trading for the six months to September 30.
With a strong leasing performance, 13.4% ahead of estimated rental value (ERV), it signed 37 new leases and renewals in the first half generating annual rent of £11.2 million.
This included two major Regent Street signings in the period, the first a new 10-year lease with VF Corp’s The North Face, extending its flagship store by 33% to 9,700 square foot into an adjacent unit.
The second was another new 10-year lease for British fashion brand Joseph, which completed the repositioning of the retail offer of its Kingsland and Carrington House locations, following Tumi, Russell & Bromley, and The Body Shop who all completed new leases with GPE last year.
Courtauld added: “Looking ahead, current market conditions will likely further constrain supply in a market where high quality space is extremely scarce. As customers compete to secure the next home for their business, we fully expect the gap between the best spaces and the rest to widen. Our clear focus on meeting this demand with our prime sustainable spaces… means we are well placed.”
GPE will announce its half-year results on November 16.