黑洞社区

London developer Great Portland Estates has a 拢1bn development pipeline to roll out over the next five years across the capital.

James Pellatt, head of projects at the 拢1.2bn turnover developer, told 黑洞社区 that Great Portland Estates (GPE) has a 2.2 million ft² development pipeline worth 拢1bn to be rolled out, with an average of three projects a year to be tendered between now and 2017.

鈥淲e鈥檙e very active at the moment,鈥� Pellatt said.

鈥淲e鈥檙e basically looking to get moving on things as a priority. There was a deliberate halt put on some projects last July as the eurozone crisis hit, but now we are dusting things off and getting them back on track quickly.鈥�

鈥淲e鈥檙e out there buying and developing and if we see an opportunity, we鈥檒l go for it.鈥�

Pellatt said the projects ranged from the 300,000 ft² Hanover Square development to a 40,000 ft² refurbishment project on Pollen Street in Mayfair. He said the latter was 鈥渘ot a glam project鈥� and would provide work for smaller firms.

鈥淚t鈥檚 a tough time for them but we definitely want to work with them,鈥� he said.

鈥淚n fact, I would often prefer to use small firms on certain projects.鈥�

The news of GPE鈥檚 healthy pipeline is in stark contrast to a series of depressing stories for London鈥檚 commercial market, after developer Hammerson decided to sell its entire 拢600m London office portfolio in favour of focusing on its retail businesses in the UK and France.

Hammerson鈥檚 decision came a month after it was forced to put on hold its 拢290m commercial-led Principal Place tower in London after the scheme鈥檚 anchor tenant - law firm CMS Cameron McKenna - pulled out of the project.

Click to read our full interview with James Pellatt