Derwent London plc REIT (GB:DLN) has released an update.
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Derwent London plc has successfully sold its Clerkenwell-based Turnmill EC1 property to Titan Investors for £77.35 million, a transaction that reflects a net initial yield of 4.9%. The property, completed in 2015 and currently leased to Publicis Groupe, has contributed to a solid 9.1% IRR for the Group. Proceeds from the sale are set to be reinvested into Derwent London’s two net zero carbon developments in the West End, solidifying the company’s financial standing and growth strategy.
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