Derwent London has reported “good” occupier demand for its central London portfolio in the first quarter, as office values remain firm.
The developer currently has 113,000 sq ft under offer – including its first potential letting at Brunel Building, W2 – which will produce £7.2m of new rents if all deals complete.
During Q1 it let 51,500 sq ft with £2.4m of rents, 4.9% above the December 2017 ERV.
Its two developments under construction, totalling 623,000 sq ft, are now 45% prelet: 80 Charlotte Street, W1, and the Brunel Building, W2.
John Burns, chief executive, said: “We continue to make good progress with our developments. Occupier interest remains encouraging and we have a significant amount of space under offer.”
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