6th May 2021 09:34
(Alliance News) - Derwent London PLC on Thursday said it has seen a "marked increase in activity" across its portfolio, as lockdown restrictions are gradually lifted across the capital.
The property developer and landlord focused on central London said it had collected around 93% of day rent in the first quarter, up from 87% on April 13, with another 4% expected later in the quarter.
The FTSE 250-listed firm has been affected by the increased numbers of people working from home, as opposed to being based in central London offices. Vacancy rates rose slightly in the quarter to 2.3% from 1.8% at the end of December last year.
New lettings for 2021 stood at GBP1.3 million, together with another GBP4.3 million under offer.
"We are seeing a marked increase in activity across our portfolio as London is emerging from lockdown and we now have GBP5.6 million of lettings completed or under offer. Our occupiers are telling us that they are keen to return to their offices as the economy bounces back," Chief Executive Paul Williams said.
Shares in Derwent were trading up 0.9% at 3,392.00 pence in London on Thursday morning.
By Will Paige; [email protected]
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