Derwent London plc REIT (GB:DLN) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
For further insights into GB:DLN stock, check out TipRanks’ Stock Analysis page.