Derwent hails "best ever" year for lettings
12th Nov 2015 08:52
(ShareCast News) - Real investment trust Derwent London has hailed 2015 as the "best ever" year for lettings. The group said it has rented 501,500 sq feet of space so far in 2015, for a total return of £26.1m per year, with overall lettings 10.8% ahead of estimated rental value as recorded in Decemb
Read moreDerwent London secures extra GBP5.2m in rent since August
14th Oct 2015 09:17
(ShareCast News) - Property investor Derwent London has secured an additional £5.2m of annual rent since 13 August on 93,600 sq ft of its buildings. In a statement ahead of a presentation and property tour for investors and analysts, Derwent said overall lettings in the year to date totalled 488,200
Read moreGlencore director puts money back on the table
2nd Oct 2015 16:38
(ShareCast News) - Glencore director William Macaulay has reinvested in the company as it continues its slow rebound. The non-executive director personally purchased 1.7m shares on Thursday at a price of 90.91p per share and cost him a total of nearly £1.55m. He's the latest in the long line of dire
Read moreDerwent London first-half net rental income up amid "voracious" demand
13th Aug 2015 08:04
(ShareCast News) - Derwent London reported a 5% increase in first-half net rental income and a 22% rise in pre-tax profit, as it said office demand was "voracious". Net rental income rose to £66.9m from £63.7m in the six months to June 2014, while EPRA profit came in at £39m from £32m. The interim d
Read moreDerwent buys Whitechapel building from RBS for £132m
13th Jul 2015 10:05
(ShareCast News) - Derwent London has exchanged contracts to acquire the freehold of Aldgate Union, Whitechapel High Street, from the Royal Bank of Scotland for £132m before costs. The building will be acquired with vacant possession in December 2015, and at a price that reflects a capital value of
Read moreMonday broker round-up
1st Jun 2015 09:48
Lamprell: Citi reiterates neutral recommendation and raises target to 155p. British Land: JP Morgan ups target to 970p from 950p and stays at overweight. Derwent London: JP Morgan raises target to 3,900p from 3,800p but keeps at overweight. Great Portland Estates: JP Morgan lifts target to 920p fr
Read moreDerwent London chairman sells £13.8m-worth of shares
12th May 2015 16:11
The non-executive chairman of Derwent London sold £13.8m worth of shares in the property investment and development group. Robert Rayne sold a total of 400,000 shares in two transactions for 3,451.80p each, pocketing a total of £13.8m. 200,000 shares were sold by Rayne directly, while 200,000 were
Read moreDerwent London awaits market reaction after general elections, posts strong Q1
7th May 2015 08:27
Property investment and development group Derwent London said "time will tell" if the general elections will affect the central London office market. Giving an update of its first-quarter performance, the property group said recent strong letting activity drove its vacancy rate down to 1.9% from 4.1
Read moreDerwent's full-year income benefits from higher rents on lettings
26th Feb 2015 10:22
Derwent said its full-year net rental income increased 5.8% to £128.7m, as the real estate investment group achieved higher margins on lettings. Pre-tax profit rose 7.8% to £62.3m in 2014, while earnings per share grew 6% to 57.08p. Net asset value climbed 28.4% to 2,908p. The strong performance cam
Read moreSector movers: Intu and British Land lead real estate stocks lower
18th Feb 2015 14:55
Real estate groups were among the worst performers in London on Wednesday with broker downgrades hitting shares of heavyweights Intu Properties and British Land. Shopping centre owner Intu fell 3% to 365.2p after analysts at Barclays lowered their rating on the stock from 'equal weight' to 'underwei
Read moreDerwent London gets go-ahead for West End housing scheme
3rd Dec 2014 12:12
Property group Derwent London has won planning approval to turn its head office in the capital's Savile Row into an upmarket housing development. Derwent said Westminster City Council had granted consent for the re-development scheme on the site of its existing 42,300 sq ft headquarters building at
Read moreDerwent rental income and sales value rise in Q3
12th Nov 2014 14:25
Real estate investment trust Derwent London said rental income and average sales values rose in the third quarter. In the three months to 30 September, the firm completed 70,000sq ft in letting, generating £4m per year in rental value, an 8.9% increase on the value it had estimated at the end of Jun
Read moreLondon open: Stocks edge higher ahead of FOMC, BoE minutes
17th Sep 2014 08:20
UK stocks edged higher on Wednesday morning after a positive session on Wall Street, though gains were only modest ahead of the hotly-anticipated Federal Open Market Committee (FOMC) statement and Bank of England minutes. London's FTSE 100 was trading 0.2% higher at 6,805 in early deals, after settl
Read moreWednesday broker round-up UPDATE
20th Aug 2014 10:50
BHP Billiton: Deutsche Bank raises target price from 1450p to 1500p and leaves its buy recommendation unchanged. Investec increases target price from 2175p to 2205p and maintains a hold recommendation. Big Yellow Group: Liberum Capital ups target price from 565p to 591p and keeps its buy recommenda
Read moreDerwent London pre-lets more space in refurbished Stephen St office
11th Jul 2014 08:02
Central London-focused property group Derwent London has pre-let 28,000 square foot of newly refurbished offices on Stephen Street near Tottenham Court Road. PR firm Freud Communications is taking a self-contained unit on the lower floors at 1 Stephen Street. The letting has been agreed on a leas
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