Directors' Deals: Great Portland Estates CFO buys in as share value drops by quarter

Jayne Cottam has wasted little time before buying shares in her new employer Great Portland Estates (GPE). Cottam began her tenure as chief financial officer on 16 March, and purchased £100,000 of shares the following day, at an average share price of £3.09. Cottam previously held the same role at healthcare landlord Assura, which Primary Health Properties (PHP) acquired last year for £1.79bn, essentially putting her out of a job. Full details of Cottam's remuneration will be published in GPE's annual report for the year ended 31 May 2026, but the company has disclosed that her gross basic salary will be £440,000. GPE has historically required its executive directors to hold a minimum of 300 per cent of base salary in shares. The equivalent figure for Cottam's predecessor Nick Sanderson was £491,000. Sanderson left GPE in January after 14 years on the board to become finance chief of Savills (SVS). GPE's shares have lost a quarter of their value since reaching a 12-month high on 30 January. Investors were concerned initially about AI's impact on office jobs, and subsequently about rising debt costs as a result of conflict in the Middle East. The office landlord and developer, whose £3.1bn portfolio is centred around London's West End, has completed two major disposals so far in 2026 for combined proceeds of £223mn. It also reported the signing of 17 new leases in its third quarter trading update, generating £9mn of annual rent, with average rents 9 per cent above their estimated market value. GPE has not yet disclosed when it will report results for the year ended 31 May.