Great Portland Estates posted a pretax loss of £140m in the year to the end of March, swinging from a profit of £555m in the previous year.
With net sales of £656m last year, the company is in a position to start buying new sites should the market weaken again. The company’s portfolio valuation fell by 4.9%.
The uncertain political and economic environment is expected to weigh on rental levels across London’s commercial property markets near term, chief executive Toby Courtauld said.
