Derwent secures record number of lettings

Derwent London has achieved a new record for lettings, with 495,300 sq ft of deals in the year to date, securing £28.3m pa in rental income. On average, lettings have been 6.9% ahead of December 2015. £11.6m of lettings were in the second half of the year, at an average of 2.8% ahead of June 2016. Derwent London has also disposed of £135m of property in the year to date, of which £90m was secured in Q4. Chief executive John Burns said: “We are encouraged by our letting and disposal activities since June. Despite uncertain market conditions, our brand of good quality space at mid-market rental levels continues to attract occupiers. Given our positive lettings and sound financial base, we are progressing our major developments in Paddington and Fitzrovia, which are both due for completion in 2019 and expected to deliver attractive returns.” • To send feedback, e-mail amber.rolt@estatesgazette.com or tweet @amberrolt or @estatesgazette