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GPE sells Oxford Street development

GPE (Great Portland Estates) is a large British property development and investment company. The majority of their sizable assets – which totaled £2.3 billion last year – are office and retail buildings based in London. GPE have been constructing a mixed office and retail use development at 73-89 Oxford Street and 1 Dean Street, which has just been sold to Norges Bank Real Estate Management for a huge £276.5 million, reflecting a yield of 3.2%.