Derwent London plc REIT (GB:DLN) has released an update.
Derwent London plc has reported robust rental growth and strong leasing activity in its first quarter, signing new leases worth £5.4 million and reducing its vacancy rate to 3.7%. The company has also successfully sold Turnmill for £77.4 million, above its book value, and is making significant progress on its development projects, including major pre-lets at 25 Baker Street W1. With a healthy financial position featuring an EPRA LTV of 28.2% and cash and undrawn facilities of £466 million, Derwent London is poised for continued investment in its high-return West End pipeline.
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