Great Portland Estates PLC
24 May 2006
24 May 2006
Great Portland Estates plc appoints Development Director
Great Portland Estates plc announces the appointment of Neil Thompson to the
Board as Development Director with effect from 1 August 2006.
Richard Peskin, Chairman, said; 'I am delighted to welcome Neil to the Board.
His appointment reflects the growing importance of our development business to
the Group.'
There is nothing which requires disclosure in relation to Mr Thompson pursuant
to Rule 9.6.13 of the Listing Rules.
Contacts:
Great Portland Estates plc
Toby Courtauld Chief Executive 020 7647 3042
Finsbury
James Murgatroyd 020 7251 3801
Notes for editors
Great Portland Estates plc ('GPE') is a central London investor and developer
with a portfolio totalling £1.128 million as at 31 March 2006, 80% in the West
End with 20% in the City and Southwark. A key component of its strategy has been
the redevelopment of substantial parts of its portfolio into an under-supplied
central London market, particularly in the West End. The Group embarked on its
700,000 sq ft near-term development programme in October 2003 with Met Building,
Percy Street, W1 being the first to complete in May 2005, delivering a 96%
ungeared return on cost. There are 4 schemes currently on site with the
remaining 4 in the programme to commence construction during the fourth quarter
2006.
The development group is currently working on bringing forward the medium and
longer-term development programme constituting 15 opportunities with an
estimated completed area of approximately 1.6 million sq ft.
Neil Thompson, 38, joined GPE in December 2002 to head up the Group's
development business. He has over 12 years experience of developing in central
London having previously worked at Derwent Valley Holdings plc where he was
responsible for a number of projects within central London. Prior to this, he
spent 6 years at Legal and General as Fund manager with responsibility for the
West End office portfolio. He was appointed to the Group's Executive Committee
in March 2005.
This information is provided by RNS
The company news service from the London Stock Exchange
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