Derwent London has raised an additional £5.2m of rent per annum from the 93,600 sq ft of commercial space it has let since mid-August.
The London landlord said that lettings in the year to date totalled 488,200 sq ft, generating an overall rent of £25.5m per annum – 10.2% above the December 2014 estimated rental value.
For the second half of the year, the company has let 165,000 sq ft at £9.1m per annum, which the company said on average equates to 12.5% above the estimated value for June 2015.
It has also agreed to acquire the long leasehold interest of the 30,500 sq ft lower ground floor of Aldgate Union, E1, for £151.3m after costs, following a deal in July to acquire the freehold of the building.
Completion of the deal to acquire the vacant Aldgate property is expected in December 2015. The deal will increase Derwent London’s ownership to 285,500 sq ft in total.
The company’s portfolio was valued at £4.6bn at the end of June.
