LONDON, UK: Derwent London is pleased to announce three off-market West End transactions with Lazari Investments. “We have exchanged contracts to acquire two properties in London’s Knowledge Quarter1, totalling 182,100 sq ft for £214.6m inclusive of costs. The combined rent is £5.3m p.a., or c.£30 per sq ft, reflecting a net initial yield of 2.5%.…
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Derwent London sells Angel Square to Tishman Speyer for £86.5 million
LONDON, UK: Derwent London has exchanged contracts to sell its 126,200 sq ft freehold interest in Angel Square, Islington to Tishman Speyer. The disposal price is £86.5m before costs. Angel Square consists of three multi-let connected buildings around a central courtyard and was acquired in November 2014. Following a light touch refurbishment, the bulk of…
Derwent London
Derwent London is a British-based property investment and development business. It is headquartered in London and is a constituent of the FTSE 250 Index. The Group is organised as one business – property investment and development. At 30 June 2019 its portfolio was valued at £5.4bn. Type: …
Derwent London to acquire freehold interest in Blue Star House for £38.1 million
LONDON: Derwent London has exchanged contracts to acquire the freehold interest in Blue Star House, 234-244 Stockwell Road, Brixton SW9 for £38.1 million before costs. The 53,750 sq ft eleven-storey building comprises multi-let office space, including two vacant floors, with restaurant and leisure accommodation at ground/podium level. The rent on acquisition is £0.8 million, equating…
Derwent London signs a new 5-tear £450 million revolving credit facility
LONDON: Derwent London has agreed and signed a new five-year £450 million revolving credit facility (RCF) from HSBC UK, Barclays and NatWest. The financing includes a ‘green’ tranche of £300 million, making it the first revolving credit facility provided to a UK REIT that meets the LMA Green Loan Principles. Derwent is the largest London-focused…