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Derwent London PLC - London office-focused real estate investment trust - Signs new 125-year headlease for its 50 Baker Street development in west London with freeholder Portman Estate. The new headlease has a ground rent of 7.5% of gross income from completion of the 236,000 square foot office, retail and housing project that Derwent is developing at the site. The signing consolidates ownership of the existing buildings on the site into a single headlease. Portman Estate also will contribute its ownership of 62-64 Baker Street, giving Derwent full control of the island site. Having been granted planning consent a year ago, the project will get underway next year, with the main contract being put in place in the first half of 2026. The project is across the street from Derwent’s 25 Baker Street project. Current stock price: 1,914.00 pence, up 1.2% in London on Tuesday 12-month change: down 14% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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