The boss added: “With unemployment rising, albeit from a low level, we should expect rents and capital values in London to fall further.”
However, GPE said £6.8 million of lettings, mainly in its office arm, are under offer, and a further £30 million of negotiations for space are underway.
Courtauld said the under offer deals are with firms in sectors such as tech and financial services.
He told the Evening Standard: “There is a lot of life. Businesses are looking through Covid, and particularly after this week [when Pfizer updated on a vaccine candidate].”
For the six months to September GPE posted a £154.8 million loss compared to a £44.4 million profit a year earlier.
That was due to factors such as Covid-19 disruption hitting rents, and less rental income due to some properties being a sold a year earlier and some becoming vacant ahead of redevelopments.
