14 June 2018
Derwent London plc ("Derwent London" / "the Group")
SONY PICTURES TAKES LEADING ROLE AT BRUNEL BUILDING
Derwent London is pleased to announce that Sony Pictures Entertainment ("Sony Pictures") has pre-let 77,200 sq ft of office space at Brunel Building, Paddington W2. The property will have seventeen storeys and Sony Pictures will occupy floors 10 to 13, as well as part of floor 9, with an ability to take further space, on a 15-year lease, with a break at year 12.
On completion in the first half of 2019, Brunel Building will total 243,000 sq ft with an exciting external diagrid structure creating generous 3.5m tall largely column-free 17,000 sq ft floorplates. The ground floor will have a spacious canalside reception as well as restaurant/café space, and in addition the building will benefit from two large rooftop terraces. The project will open up new public access to Paddington Basin and is sited opposite an entrance to the Elizabeth line.
John Burns, Chief Executive of Derwent London, said:
"We are delighted that Sony Pictures, one of the world's most dynamic and creative entertainment providers, has chosen Brunel Building as its new London home. We are seeing good interest in the remaining space and are attracting a number of other potential new occupiers to the area which will help its transformation into one of London's most vibrant locations."
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For further information, please contact:
Tel: +44 (0)20 7659 3000
John Burns, Chief Executive
Paul Williams, Property Director
Emily Prideaux, Head of Leasing
Quentin Freeman / Jon Hall, Investor Relations
Tel: +44 (0)20 7404 5959
Notes to editors
Derwent London plc
Derwent London plc owns 87 buildings in a commercial real estate portfolio predominantly in central London valued at £4.9 billion (including joint ventures) as at 31 December 2017, making it the largest London-focused real estate investment trust (REIT).
Our experienced team has a long track record of creating value throughout the property cycle by regenerating our buildings via development or refurbishment, effective asset management and capital recycling.
We typically acquire central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or the Tech Belt. We capitalise on the unique qualities of each of our properties - taking a fresh approach to the regeneration of every building with a focus on anticipating tenant requirements and an emphasis on design.
Reflecting and supporting our long-term success, the business has a strong balance sheet with modest leverage, a robust income stream and flexible financing.
Landmark schemes in our 5.5 million sq ft portfolio include White Collar Factory EC1, Angel Building EC1, The Buckley Building EC1, 1-2 Stephen Street W1, Horseferry House SW1 and Tea Building E1.
In 2018 to date the Group has won the Property Week Property Company of the Year award whilst White Collar Factory scooped an RIBA London award, RICS award and two BCO awards for Commercial Workplace and Innovation. 25 Savile Row also won an RIBA London award and SKA Gold for the fit-out. In 2017 the Group collected the Property Week Developer of the Year award and EG Offices Company of the Year and won further awards from RIBA, Civic Trust and BCO. In 2013 Derwent London launched a voluntary Community Fund and has to date supported 56 community projects in Fitzrovia and the Tech Belt.
The Company is a public limited company, which is listed on the London Stock Exchange and incorporated and domiciled in the UK. The address of its registered office is 25 Savile Row, London, W1S 2ER.
For further information see www.derwentlondon.com or follow us on Twitter at @derwentlondon
This document contains certain forward-looking statements about the future outlook of Derwent London. By their nature, any statements about future outlook involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future. Actual results, performance or outcomes may differ materially from any results, performance or outcomes expressed or implied by such forward-looking statements.
No representation or warranty is given in relation to any forward-looking statements made by Derwent London, including as to their completeness or accuracy. Derwent London does not undertake to update any forward-looking statements whether as a result of new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast.
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