Overview
Derwent London is a REIT focused on central London offices with a particular focus on the West End and city fringes.
Their website can be found here.
Fundamentals
Price
Research History
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11 Feb 2021 9 min read
QuotedData’s Real Estate Roundup – February 2021
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data January’s biggest movers in price terms are shown in the chart below. The UK’s vaccination programme has lifted optimism for a speedier opening of the economy than first feared at the start of the year. Property companies that reported positive valuation figures for the […]
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16 Oct 2020 11 min read
QuotedData’s Real Estate Quarterly Review – Q3 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments Toughing it out It has been another challenging quarter for the real estate sector as the COVID-19 pandemic continues to take its toll. The economy bounced back in the early part of the quarter after the national lockdown was lifted, while government schemes such as […]
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10 Sep 2020 12 min read
QuotedData’s Real Estate Roundup – September 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data August’s biggest movers in price terms are shown in the chart below. There were some interesting price rises during the month of August as investors’ search for returns took them to property companies that have seen their share prices severely depressed during the Covid-19 […]
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16 Jul 2020 10 min read
QuotedData’s Real Estate Quarterly Review – Q2 2020
Real Estate Quarterly Roundup Kindly sponsored by Aberdeen Standard Investments A polarised lens The covid-19 pandemic continued to wreak havoc in the real estate in the second quarter, but a polarisation of sectors and funds has started to become apparent. Companies focused on the retail, leisure and hospitality property sectors had already seen huge negative […]
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10 Mar 2020 16 min read
QuotedData’s Real Estate Roundup – March 2020
Real Estate Roundup Kindly sponsored by Aberdeen Standard Investments Performance data February’s biggest movers in price terms are shown in the chart below. Property stocks tumbled in February as fears over the spread of Covid-19 spooked financial markets around the world and resulted in the largest sell-off since the 2008 financial crisis. There were just […]
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30 Jan 2020 16 min read
QuotedData’s Real Estate Annual Review – 2019
Property’s alternative theory The year was dominated by political and economic uncertainty, with Brexit negotiations casting a shadow over the market and the general election adding a further layer of doubt for much of the year. For a market that is staunchly aligned with political and economic sentiment, listed property companies and REITs performed well, […]
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18 Sep 2019 9 min read
QuotedData’s Real Estate Roundup – September 2019
Real Estate Roundup Performance data August’s biggest movers in price terms are shown in the chart below. The month of August has traditionally been a quiet period for news and announcements in the property sector, and this year is no different. Central London landlord Shaftesbury, which owns Carnaby Street as well as huge swathes of […]
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13 Mar 2018 2 min read
QuotedData’s Economic round up – March 2018
QuotedData’s economic round up – March 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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07 Feb 2018 2 min read
QuotedData investment companies roundup – February 2018
QuotedData investment companies roundup – February 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2018. Kindly sponsored by Baillie Gifford. The oil price was up again over the month and this helped propel […]
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14 Sep 2017 2 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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03 Aug 2017 2 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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15 Mar 2017 1 min read
QuotedData’s round up of views on the global economy – March 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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12 Jan 2021 1 min read
Derwent London collects 83% of rent
Derwent London, the central London office developer and owner, has collected 83% of rent for the first quarter of 2021. The group said it has received 87% of the £40.9m office rent for the quarter, which is higher than the previous two quarters at an equivalent time. It has received just 26% of the £3m it […]
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03 Dec 2020 1 min read
Derwent London sells Johnson Building
Derwent London sells Johnson Building – Derwent London has exchanged contracts to sell its 192,700 sq ft freehold interest in Johnson Building, 77 Hatton Garden and 5-7 St Cross Street EC1 to Eurazeo Patrimoine, the real assets division of Eurazeo. The headline price is £170m before rental top-ups of £2.4m for incentives and vacant space. The […]
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16 Oct 2020 3 min read
QD view – Rent collection nuggets
Fourth quarter rent collection figures have been coming in thick and fast over the past week or so and overall they show a general improvement on collection rates during the COVID-19 pandemic. There are a few nuggets to come from the announcements so far. The first thing to say is that collection rates have improved […]
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13 Oct 2020 2 min read
Derwent London collects 80% of rent for Q4 2020
Derwent London, owner and developer of some of the biggest offices in London, has collected 80% of rents for the current quarter (billed on 29 September). This was far higher than the June and March quarter payment days at the equivalent time (70% and 73% respectively). The majority of the outstanding rent comes from the […]
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28 Aug 2020 3 min read
Working from home or back to work?
The debate around the future of the office continues to rage. It was reported today that the government is likely to set about on a campaign to get people back to the office. If the economy is going to bounce back quickly, cities like London, Manchester and Birmingham buzzing with office workers will certainly help. […]
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07 Jul 2020 2 min read
Helical and Derwent London update on rent collection
London office developers Helical and Derwent London have announced rent collection updates for the June to September quarter. They have collected 76.2% and 70% respectively, after they fell due on 24 June 2020. Helical As at 3 July 2020, the group collected 76.2% of the June quarter rents, with a further 14.6% agreed to be […]
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01 May 2020 3 min read
The end of the office? No sirree
How the real estate sector adapts to a ‘new normal’ following covid-19 could have huge implications for listed property companies. QuotedData has reported on the likely effects on the retail and logistics sectors as well as the impact on valuations. One of the biggest unknowns, however, is the outlook for the office sector. This week […]
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08 Apr 2020 1 min read
Derwent London confirms final dividend
London office developer Derwent London has confirmed its final dividend. The group will make a final dividend payment of 51.45p on 5 June 2020. Derwent said it had so far received 73% of rents due on the quarter day, with another 6% now being received on a monthly basis in May and June. Therefore, at […]
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25 Feb 2020 2 min read
Derwent London reports 4.8% jump in NAV
Central London office developer Derwent London reported a 4.8% jump in net asset value (NAV) in impressive full year results. The group’s EPRA NAV per share was 3,958p at the end of December, up from 3,776p a year earlier. Net rental income rose 10.5% to £178m, and the London office landlord and developer produced a […]
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23 Dec 2019 1 min read
Derwent London sells 40 Chancery Lane for £121.3m
Derwent London has exchanged contracts to sell its long leasehold interest in 40 Chancery Lane for £121.3m. The 103,700 sq ft office and retail building is let to Publicis Group until July 2035, with a tenant break in July 2033, at a net income of £5.5m per annum. The sale price represents a net yield to […]
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08 Aug 2019 1 min read
Derwent London sells Clerkenwell office
Derwent London sells Clerkenwell office – Derwent London has sold a central London office building for £103m and reports strong half year results. It has exchanged contracts to sell The Buckley Building, in Clerkenwell, London for £103m. The 85,100 sq ft office building, which produces annual income of £4.87m, has been sold to to CBRE Global Investors at a […]
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26 Feb 2019 2 min read
Derwent London delivers NAV growth despite Brexit
Derwent London delivers NAV growth despite Brexit – Derwent London has published results for the year ended 31 December 2018. Highlights are: Derwent London delivered a total return of 5.3% EPRA NAV 3,776p per share, up 1.6% EPRA earnings of 113.1p per share, up 20.0% from 94.2p in 2017 (but these include some one-off items, underlying […]
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27 Feb 2018 2 min read
Derwent London delivers a strong set of results
Derwent London delivers a strong set of results – Derwent London (DLN), the REIT focused on central London offices with a particular focus on the West End and City fringes, released its final results to 31st December 2017 Highlights EPRA net asset value per share increased 4.6% to 3,716p from 3,551p and a 3.7% increase from […]
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18 Jan 2018 2 min read
Derwent London gets control of Tottenham Court Road site
Derwent London gets control of Tottenham Court Road site – Derwent London has announced that Crossrail has completed the base infrastructure works at Soho Place W1 and handed over the site to the group. It is the first Crossrail site to be delivered to a developer, and this has been achieved almost a year before the […]
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10 Aug 2017 2 min read
London Museum of Photography headed to Whitechapel
London Museum of Photography headed to Whitechapel – Derwent London has announced that it has pre-let the lower ground floors and a new office pavilion at The White Chapel Building, 10 Whitechapel High Street E1, to Fotografiska. Fotografiska runs the world renowned photography museum in Stockholm and will use the space for Fotografiska – The […]
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03 Jul 2017 2 min read
Derwent London sells Copyright building
Derwent London sells Copyright building – Derwent London is pleased to announce that it has exchanged contracts on the sale of its long leasehold interest in The Copyright Building, 30 Berners Street W1 to Union Investment Real Estate GmbH (“Union Investment”). The consideration is GBP165.0m, or GBP148.7m net of top-ups relating to rent free periods […]
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01 Jun 2017 2 min read
Derwent London announces letting to Box.com at White Collar Factory
Derwent London has announced that it has let the top two floors of the tower at White Collar Factory EC1 (pictured) to Box.com, the cloud content management company. The initial rent is £2.1m per annum or £75 per square foot, which is above December 2016 ERV. Derwent London says that Box.com will occupy 28,500 square […]
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6 min read
Perpetual Income & Growth suffers being underweight resources
Perpetual Income & Growth (PLI) has announced its annual results for the year ended 31 March 2017. During the period, it provided an NAV total return of 9.6%. It’s chairman, Bill Alexander (pictured), says that Although this is satisfying in absolute terms, it is less so when compared with the 22.0% return posted by the […]
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30 May 2017 5 min read
Edinburgh Investment Trust held back by lack mining exposure, HSBC and Royal Dutch Shell
Edinburgh Investment Trust held back by lack mining exposure, HSBC and Royal Dutch Shell. While the UK market returned 22%, for the year ended 31 March 2017, Edinburgh Investment Trust’s net asset value total return was +14.4% and the share price total return (with dividends reinvested) was +11.2%. The share price ended the year at 713.5p, an increase […]
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25 May 2017 8 min read
TR Property plans 25.7% dividend increase
As TR Property announces its full year results for the year ended 31 March 2017, Hugh Seaborn, its chairman, commented: “I’m pleased to report another solid year of performance from the Trust. The Board are particularly pleased to announce a final dividend of 6.4p which brings the full year dividend to 10.5p, a 25.7% increase on […]
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28 Feb 2017 2 min read
Derwent London thinks its rental income could rise by 85% over the next five years
Derwent London has published results for the year ended 31 December 2016. Its EPRA net asset value per share increased 0.5% to 3,551p from 3,535p at 31 December 2015, 1.3% lower than 3,598p at 30 June 2016. Net rental income increased 5.2% to GBP145.9m from GBP138.7m in 2015. EPRA earnings rose 8.9% to GBP85.7m from GBP78.7m last […]
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24 Nov 2016 3 min read
Edinburgh Investment Trust misses out on mining bounce
Edinburgh Investment Trust produced a positive net asset value (NAV) total return for the six months to 30 September 2016 of 6.8% (debt at par) and 6.6% (debt at market), compared to a return of 12.9% by the FTSE All-Share Index, the Company’s benchmark. The share price total return (share price with dividends reinvested) for […]
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31 Oct 2016 1 min read
Derwent sells building in Covent Garden
Capital & Counties Properties PLC has acquired the freehold interest of Tower House, 10 Southampton Street, Covent Garden, from Derwent London PLC for GBP67.5m before purchaser’s costs. The property is a substantial corner building located at the junction of Southampton Street and Tavistock Street with views towards the Piazza. The multi-let building produces an annual rental […]
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09 Sep 2016 1 min read
Derwent London sells leasehold interest in 75 Wells Street, W1, for £40.9m
Derwent London has announced that it has sold its long leasehold interest in 75 Wells Street, London W1, for £40.9m before costs. The purchaser was a private investor and the company says that the sale price was in line with December 2015 and June 2016 valuations. According to Derwent London, 75 Wells Street (pictured) is […]
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17 Aug 2016 2 min read
Threadneedle UK Select caught out by mining rally
In the six month period ended 30 June 2016, Threadneedle UK Select’s net asset value total return was 1.4%, compared with the 4.3 % total return from the FTSE All-Share Index, the benchmark against which the Investment Manager’s performance is measured. Earnings per share for the half year amounted to 4.16p (30 June 2015: 8.21p). The Board […]
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12 Aug 2016 3 min read
Derwent takes comfort from low financial sector exposure
Derwent London has announced interim figures covering the six months ended 30 June 2016. Its EPRA net asset value per share increased by 1.8% to 3,598p from 3,535p at 31 December 2015. Net rental income increased by 8.5% to GBP72.6m (from GBP66.9m in the equivalent period in 2015). This fed through into EPRA adjusted profits before tax […]
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25 May 2016 3 min read
TR Property outperforms as direct portfolio returns almost 20%
TR Property has announced results for the year ended 31 March 2016. The NAV rose 8.2% which was well ahead of the benchmark rise of 5.4%. However the share price total return was -1.6%. The Directors have announced a final dividend of 5.20p per share, a 9.5% increase over the prior year final dividend. This […]
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25 Feb 2016 2 min read
Derwent London beats IPD in 2015
Derwent London is reporting that its EPRA net asset value per share increased by 21.6% to 3,535p from 2,908p at 31 December 2014, and by 9.6% from 3,226p at 30 June 2015. Net rental income increased 7.8% to £138.7m from £128.7m in 2014. EPRA profit before tax rose 31.0% to £81.6m from £62.3m last year […]
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07 Dec 2015 1 min read
Derwent London sells Wedge House for £33.5m
Derwent London has announced the sale of old Wedge House, 40 Blackfriars Road SE1, a 38,700 sq ft vacant freehold office building, for £33.5m before costs to Ennismore. Derwent, in collaboration with Ennismore, obtained planning permission this summer for a 110,000 sq ft hotel and office scheme at the site. Ennismore will now undertake the […]
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13 Aug 2015 2 min read
Derwent beats IPD as development programme progresses
Derwent London has published interim results covering the first half of 2015. Over this period, its EPRA net asset value per share increased by 10.9% to 3,226p from 2,908p. EPRA earnings per share were 33.97p, 16.5% up on the equivalent period last year – this was on the back of a 21.9% increase in PBT and […]
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11 Feb 2015 2 min read
Derwent London swaps assets with LaSalle
Derwent London has announced a deal with LaSalle Investment Management where it is swapping 22 Kingsway WC2, Mark Square House EC2, and a 50% interest in a new joint venture at 9 and 16 Prescot Street E1 for a minimum 175-year long leasehold of 20 Farringdon Road, Clerkenwell EC1 and £27.3m in cash. 20 Farringdon Road […]
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24 Nov 2014 1 min read
Derwent London buys Angel Square in EC1
DLN : Derwent London buys Angel Square in EC1 Derwent London, which owns a number of properties close to Angel and Old Street tube stations, has acquired the freehold of Angel Square, London EC1 for £75m. The property sits on the corner of Islington Street and City Road, directly above Angel tube station. It consists […]
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15 Oct 2014 1 min read
Derwent London gets planning for Berners Street
DLN : Derwent London gets planning for Berners Street Derwent London has announced that it has received planning consent for its proposed development at 25-29 Berners Street, London (in Fitzrovia / North Soho). The development will provide 105,000 sq ft of space, 20,000 sq ft of which will be retail and the balance offices. The […]
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14 Aug 2014 1 min read
Good start to 2014 from Derwent London
DLN : Good start to 2014 from Derwent London Derwent London’s interims show a 13.6% increase in its EPRA NAV for the first half of 2014. The interim dividend has been increased by 8.4% to 11.65p on the back of a 12.3% improvement in EPRA earnings. Derwent London has undrawn facilities of £364m and its loan […]
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11 Jul 2014 1 min read
Derwent London : DLN – Stephen Street pre-let to Freud Communications
Derwent London has pre-let 28,000 square feet, of newly refurbished office space, at its 1-2 Stephen Street property in W1, London, to public relations firm Freud Communications. The lease is for 15 years with an initial rent of £1.8m pa, rising to £2.1m pa after five years, with an open market upward-only rent review, or tenant break, at year ten. Derwent purchased 1-2 […]
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27 Feb 2014 1 min read
Derwent London : DLN – Full year results
Derwent London has released results for the year ended 31 December 2013. Over the year its EPRA NAV rose by 20% to £22.64 and EPRA earnings per share rose by 7% to 53.9p. The dividend was hiked by 8.3% to 36.5p. Almost 250,000 sq. ft of projects were completed in 2013 and Derwent have another […]
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07 Jan 2014 1 min read
Derwent London : DLN – acquisition
Derwent London has bought 22 Kingsway WC2, an eight storey, 91,400 sq ft freehold office building let to Kings College London and the 44,000 sq ft Peacock Theatre (let to the London School of Economics for just £1 per annum until 2054). The price was £59.3m (after costs), equivalent to a yield of 5.1%.