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Derwent London Q1 rent collection improves as London emerges from lockdown
StockMarketWire.com
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Property company Derwent London reported increased rent collections for the first quarter of the year and £1.3 of new lettings achieved for the year to date as London emerged from lockdown.
About 93% of first quarter day rent has been collected, up from 87% on 13 April with another 4% expected later in the quarter.
Vacancy rate of 2.3% remained low, but was up from 1.8% in December 2020.
The company said it was currently procuring the main contractor at 19-35 Baker Street W1, a 297,000 sq ft scheme, with demolition to start in H2 2021.
Planning decisions, meanwhile, were expected in June 2021 on network building W1 for up to 130,000 sq ft.
Story provided by StockMarketWire.com
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