Derwent London takes on holiday letting

6th Jul 2011 15:58

Derwent London, which rents out offices in the capital, has announced it has let 95% of its recently completed Angel Building.The firm said that Expedia, the world's largest online travel company, had agreed to lease the top two floors of the building in EC1.Expedia will rent an area covering 81,260 sq ft of office space at a rent of £3.33m per annum on a 10-year lease.Derwent also said it has secured a deal with Busaba Eathai, a restaurant that specialises in modern Thai cuisine, to lease a 4,200 sq ft retail unit at the south of the building. John Burns, chief executive of Derwent London,said the firm had enjoyed strong letting performance this year.Derwent has put its faith in the capital's real estate market with recent purchases of two properties in the West End. The property group announced in March it would buy an office building in Victoria for £45m and one on Tottenham Court Road for £31m.