Great Portland’s Asset Values Increase on London Office Demand - Bloomberg
Great Portland Estates Plc (GPOR), the real- estate developer focused on London’s West End, said net asset value rose about 12 percent in fiscal 2012 as the value of its properties and developments increased.
The net asset value at March 31 was 403 pence a share, up from 360 pence a year earlier, the London-based company said in a statement today. The valuation of Great Portland’s portfolio gained 9.2 percent on a like-for-like basis.
“London continues to attract a significant flow of investment capital from around the world,” Chief Executive Officer Toby Courtauld said in a statement. “As a result, we expect yields for prime assets, particularly in the West End, to remain stable.”
Central London offices, retail and industrial units are the only parts of the U.K. commercial property market rising in value, Investment Property Databank Ltd. said May 15. Great Portland reported 88 new leasings, including joint ventures, that will generate 25.2 million pounds of rent a year.
Rents will probably rise in the next few years, “given the scarcity of development finance and minimal development completions” in London, Courtauld said.
To contact the reporters on this story: Neil Callanan in London at ncallanan@bloomberg.net
To contact the editor responsible for this story: Andrew Blackman at ablackman@bloomberg.net
London 2012: More Olympic tickets to go on sale - BBC News
Some 500,000 tickets for events at the London 2012 Olympic Games are to be put up for general sale on Wednesday, organisers Locog have said.
There are some £20 tickets left for sports such as volleyball, table tennis, weightlifting, taekwondo, boxing and fencing.
But several sports have sold out, and there are only higher-priced tickets left for most medal events.
The tickets will go on sale from 11:00 BST for 24 hours.
Their availability can already be viewed on the 2012 ticketing website.
Organisers Locog say there is a good number of tickets at the cost of £45 to £450 in sports including archery, badminton, basketball, beach volleyball, canoe sprint, diving, handball and hockey.
Only a limited number of tickets are available in race walk, mountain biking, artistic gymnastics and rowing.
Up to four tickets can be purchased per session, and up to four sessions in one transaction, for all available sports apart from football - where more tickets are available to encourage groups to attend.
'Delivered on promise'All tickets have been sold in some sports, including athletics, cycling, equestrianism, rhythmic gymnastics and swimming as well as the opening and closing ceremonies.
Locog commercial director Chris Townsend said: "Our priority has been to get as many people who missed out in the sales process last year to the Games.
"We have delivered on our promise and now another 150,000 people have successfully purchased up to four tickets each."
He warned: "Wednesday's sale is a live sale, and, like other high demand events including pop concerts, we expect the website to be very busy and customers may well be held in queues for over 30 minutes at peak times".
The online ticketing system sparked criticism last year after it crashed under high demand.
In some cases, the system reportedly informed potential buyers they had secured tickets, who were later told that they had failed.
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