Derwent London’s 25 Baker Street Offices Fully Pre-Let Ahead of Completion

The latest announcement is out from Derwent London plc REIT ( (GB:DLN) ).

Derwent London announced that its 25 Baker Street W1 office development is fully pre-let ahead of its completion in the first half of 2025, indicating strong demand for high-quality, sustainable office space in London’s West End. The office space has been leased to five tenants, with an average rent premium of 16.5% over the expected value, setting a new benchmark for the area. This development aligns with positive market trends and includes long-term leases with established financial and professional firms, enhancing Derwent London’s position in the market. Additionally, there is significant interest in the retail and F&B units of the project, with some units already under offer, further demonstrating the area’s attractiveness.

More about Derwent London plc REIT

Derwent London plc is the largest office-focused real estate investment trust (REIT) in London, managing 63 buildings with a portfolio valued at £4.8 billion as of mid-2024. The company specializes in the regeneration of properties through redevelopment or refurbishment, primarily in central London locations such as the West End and the Tech Belt. Known for its design-led approach and commitment to sustainability, Derwent London aims for net zero carbon by 2030 and is publicly listed on the London Stock Exchange.

YTD Price Performance: -2.04%

Average Trading Volume: 170,015

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: £2.2B

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