GPE Expands AI Customer Base

Great Portland Estates (LON:GPE) said Tuesday that it has expanded its AI-focused client base, now representing 18.5% of its Fully Managed office portfolio.

The latest addition is Vanta, a compliance automation and trust management platform, leasing 7,500 sq ft at Kent House, W1.

The addition of Vanta brings GPE's total AI-led customers to ten, nine of whom have opted for Fully Managed deals. This segment now occupies 7.1% of GPE's total office portfolio, demonstrating the growing importance of AI tenants.

The UK AI sector is experiencing substantial growth, employing approximately 86,000 individuals and generating £23.9 billion in annual revenue.

GPE added that London, in particular, has emerged as a global AI hub, home to over 1,600 startups. In 2024, London-based AI companies raised £2.7 billion, contributing to a total of £9.9 billion in AI investment over the past five years. This investment represents 71% of all UK AI funding.

According to GPE, the city's appeal stems from its concentration of world-class universities, deep tech expertise, and access to venture capital, creating a fertile ground for AI innovation.

The company believes its strategic positioning in prime London locations allows it to capitalize on this trend.

Toby Courtauld, Chief Executive at GPE, stated, “We are delighted to welcome Vanta to their new Fully Managed space at Kent House. AI is reshaping how we work, and London sits at the centre of this transformation. Our Fully Managed buildings in prime London locations provide the flexibility and ease of occupation that fast-growing businesses like Vanta need.”

Courtauld reinforces the company's belief that premium workspaces in key global cities will continue to attract top-tier AI talent and businesses.

While the broader rise of AI may potentially reduce overall demand for office space, GPE believes that high-quality workspaces in major global cities will remain attractive to leading AI firms.