Great Portland Estates calls in lawyers to investigate culture
Shares in Great Portland Estates (GPE) have recovered some losses this morning after reports surfaced of a whistleblower complaint about culture at the FTSE 250 office landlord over the weekend.
GPE, which has a London office portfolio worth £2.9bn, has since called in lawyers to investigate the allegations in light of the complaint by a former employee, according to reports.
The company’s share price has dropped by around three per cent since the start of the week.
The landlord told employees in an all-staff call about the circumstances, driven by concerns that the whistleblower would go public with the allegations, The Telegraph found.
Toby Courtauld, the chief executive, who led the call on Friday, did not go into details or reveal the nature of the allegations, but told staff that he did not recognise the picture painted of the company’s culture.
The investigation is likely to run for several weeks, when the law firm will report back non-executives on the board with its findings and any recommendations.
Under Great Portland Estates’ whistleblowing policy, matters reported to the company by employees are initially investigated by its general counsel and company secretary or the senior independent director.
GPE whistleblowing
In its last annual report in May, Great Portland Estates said that 86 per cent of its employees said they felt comfortable and accepted at work, up from 79 per cent in early 2024.
It said its “overall favourability rating” had increased from 74 per cent in February 2024 to 78 per cent in February 2025.
GPE has been boosted this year by its exposure to ‘best-in-class’ prime offices, rent for which are expected to rise six to 10 per cent in the next financial year.
There is especially high and enduring demand for sustainable, premium quality buildings as bosses encourage employees back to the office and environmental regulations tighten.
Around 90 per cent of Great Portland Estates’ office portfolio is within walking distance of the Elizabeth Line, making its sites attractive for companies trying to convince workers to go back to the office.
GPE declined to comment.