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West-End-focused real-estate investment trust (Reit) Great Portland Estates suffered a 7.6 per cent fall in first-quarter net asset value, but did manage to demonstrate some of the West End property market’s much-touted resilience - rental values rose 0.6 per cent.
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However, the group warns that tenant demand is likely to weaken, and this could hit rents, even in the under-supplied West End.
Great Portland is a quality player, but there could be testing times ahead. Fairly priced at 340p.
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-IC-1.5.4a-prod - 31/10/2008 13:11:34 - carlos.princz
