Derwent posts solid letting figures

Derwent London has posted solid letting figures for the year to date – achieving rents ahead of estimated rental values (ERV).

The London office specialist has let or pre-let 260,100 sq ft so far in 2017, achieving rents of £17m a year.

The lettings were 0.9% ahead of December’s ERV and those secured since the end of February were 4.6% above ERV.

Derwent also said its White Collar Factory development was now complete. Some 72% of the space is let and the majority of the rest is under offer.

“Following the excellent start to the year that we announced with our results in February, demand for our product remains strong and our letting progress continues,” said Derwent’s chief executive John Burns. “In addition, our sales activity demonstrates resilient investment demand.”

Property disposals agreed in the year to date totaled £327m, 6.7% above December 2016 values.

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