Derwent London has signed £17.1m of new rental agreements across its portfolio in the first three months of 2023, at an average 6.6% above December 2022 ERVs.
Chief executive Paul Williams said: “London, particularly the West End, is busy and people are back in the office. Occupier demand continues to favour amenity-rich, well-designed and sustainable space, evidenced by a strong Q1 with £17.1m of new lettings across our portfolio on average 6.6% above ERV.”
New lettings agreed in the quarter include a 22,220 sq ft flagship store for Uniqlo at One Oxford Street, W1; a 106,100 sq ft prelet to Pimco at 25 Baker Street, W1, at an annual rent of £11m; and a 31,000 sq ft letting at the Featherstone Building (pictured), EC1, to Buro Happold at an annual rent of £2.3m.
