Earnings ForecastWith 25 Baker Street offices now 84% pre-let, and 100% of the debt fixed or hedged, the earnings forecast is substantially de-risked in our view.
Financial PerformanceDerwent's shares have out-performed the broader EPRA UK REIT Index, which is flat over the same period.
Occupancy And DemandProgress continues at developments where strong pre-lets demonstrate robust demand for offices that will not be completed until FY25.