Derwent London (LSE:DLN), the FTSE-listed central London office REIT, has received net proceeds of £160m following the simultaneous completion of two previously announced property sales.
Horseferry House in SW1 sold to an overseas investor for £131.8m, or £129.3m net of rental top-ups, reflecting a 6.0% net yield to the buyer and an ungeared internal rate of return of 8.4% across Derwent's 21-year ownership.
80-85 Tottenham Court Road W1 sold to a private joint venture for £32.6m before costs, with vacant possession of the offices, at a capital value of £755 per square foot.
Derwent has also launched a sales campaign for 1 Page Street SW1, following Burberry's decision to vacate and the start of strip-out works, positioning the building as a residential conversion opportunity.
"Since the start of 2026, we have agreed or completed sales totalling £279m, making good progress towards our £400m target for the year," said Chief Executive Paul Williams, adding that 90 Whitfield Street W1 remains on track for completion in August.
