Derwent has secured 185,400 of prelets, generating £13.2 pa, in Q1 2016.
Theses include a 29,500 prelet to Capital One at the White Collar Factory, EC1, and puts the company’s letting activity 6.1% ahead of December 2015’s total.
The firm has a 1m sq ft development pipeline with 400,000 sq ft due for completion next year, 57% of which is already prelet.
Its loan-to-value ratio was 19% at 31 March 2016, with cash and undrawn facilities of £310m.
John Burns, Derwent’s chief executive officer, said: “Although uncertainty ahead of the forthcoming June referendum appears to have lowered investment activity, Derwent London continues to see little evidence of any slowdown in occupier demand for its middle-market rental product.”
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