Investigation of Company Culture Initiated by Great Portland Estates Upon Legal Advice
Great Portland Estates (GPE), a leading FTSE 250 office landlord with a London office portfolio worth £2.9bn, is currently under investigation following whistleblower allegations concerning workplace culture and data manipulation.
The investigation, led by GPE’s chair William Eccleshare and law firm Addleshaw Goddard, stems from claims of sexual harassment, retaliatory behavior, and manipulation of diversity and inclusion data to secure higher executive bonuses. The whistleblower alleged that a department head instructed HR to selectively alter diversity figures—such as including only certain employees, counting future hires, and retroactively promoting staff—to meet interim targets for gender and ethnicity. These manipulated figures helped trigger partial bonus payouts to directors in 2024.
Independent sources also cited an incident where an assistant manager was racially abused by a GPE customer, and management reportedly ignored the issue.
In its last annual report in May, 86% of GPE's employees reported feeling comfortable and accepted at work, an increase from 79% in early 2024. The company's "overall favorability rating" also increased from 74% in February 2024 to 78% in February 2025.
Toby Courtauld, the chief executive of GPE, led an all-staff call to address the circumstances of the whistleblower complaint. He did not reveal the nature of the allegations but said he did not recognize the picture painted of the company's culture. The share price of GPE has dropped by around three percent since the start of the week.
The investigation is expected to run for several weeks, with findings and any recommendations from the investigation to be reported back to non-executives on the board by the law firm. The high and enduring demand for sustainable, premium quality buildings remains, with around 90% of GPE's office portfolio being within walking distance of the Elizabeth Line.
GPE has been boosted this year by its exposure to 'best-in-class' prime offices, with rent for these offices expected to rise six to 10% in the next financial year. However, the ongoing investigation casts a shadow over the company's reputation and future prospects.
Under GPE’s whistleblowing policy, matters reported by employees are initially investigated by the general counsel and company secretary or the senior independent director. GPE declined to comment on the recent allegations and investigation.
[1] The Telegraph [2] Financial Times
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