Source - SMW
Derwent London said 2017 will be another record letting year.

The group said that in 2017 to date it had let or pre-let 674,800 sq ft achieving £41.2m pa of rent - a 16% increase from the £35.5m announced in September.

It said lettings year to date were 1.3% above December 2016 ERV (estimated rental value).

Second half lettings to date were 2.3% above June ERV and the EPRA vacancy rate had fallen from 1.9% in June to 1.4%.

Other highlights:

-       401,000 sq ft of developments completed in 2017 and are now 94% let:

*   White Collar Factory EC1 completed in H1 and is now 92% let

* The Copyright Building W1 was completed and sold for £166.2m in Q4

-      620,000 sq ft is under construction, with a minimum of 45% pre-let:

* At least 86% of the office space at 80 Charlotte Street W1 is now pre-let

-      Property disposals in the year to date total £496m,10% above December 2016 values

Chief executive John Burns said: 'Good occupier and investment demand means that 2017 will be a record year for Derwent London's lettings and investment disposals even with lower UK economic growth and political uncertainty. 

'The continuing positive letting momentum reinforces our earlier decision to move forward with our next major project at Soho Place W1.'




At 8:20am: (LON:DLN) Derwent London share price was +14.5p at 2771.5p



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