Half Year 2024 Great Portland Estates PLC Earnings Call Transcript
Good morning, everybody, and welcome. Welcome to our interim presentation. It's great to see you all. Thank you very much for coming. We really appreciate your time in these busy days, and it's terrific you've given it some of yours. Thank you.
So I'm going to start this morning, if I may, by summarizing some of the key messages that we're going to address through the next 30 or so minutes. And in our finals in May, I talked about near-term challenges in our markets. Since then, macro concerns have dominated which, along with rising interest rates have impacted sentiment and pushed yields up, affecting our property valuations, but these concerns have also triggered the return of the cycle for the first time since 2016, and with that will come a significant opportunity, as I'll describe later.
It's also very clear to us that in our leasing markets of core Central London, the fundamentals of supply and demand remain pretty healthy. London is busy. Workers have returned, organizations and their people have worked out that fit
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