16th Mar 2026 11:00
Derwent London PLC - London-headquartered property developer - Says it has pre-let all 136,300 square feet of offices at its Network W1 building to data and artificial intelligence-focused software company Databricks Inc. Annual rent is GBP14.1 million, and San Francisco-based Databricks has a 15-year lease with a break at the tenth year. Derwent says the market for office space in London is entering a period of very low new supply but that demand remains robust across sectors, driving a "strong rental growth outlook".
"We are delighted to have pre-let all of the offices at Network W1 to Databricks shortly before completion at a rent which reflects the quality of the space we are delivering," comments Derwent Chief Executive Paul Williams. "This maintains our long and successful pre-letting track record. Momentum is strong across the business and since the start of 2026, we have now agreed lettings totalling GBP15.7 million of rent with lease renewals and regears adding a further GBP2.1 million. In addition, we have GBP4.3 million of transactions under offer."
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By Emma Curzon, Alliance News reporter
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