18th Jul 2022 08:45
Derwent London PLC - London-based property investor and developer - Sells south west wing of Bush House in central London for GBP85 million before costs. The disposal price represents a premium to the office building's December book value, Derwent says, though it doesn't specify the premium. Bush House sits on the Aldwych at the southern end of Kingsway. Bush House is best known as the former home of the BBC World Service, which broadcast from the building between 1941 and 2012. The building has been undergoing renovation, and Derwent said it was sold with vacant possession. The sale proceeds will reduce the firm's loan-to-value ratio and provide additional funds for its development pipeline.
Current stock price: 2,738.00 pence, down 0.2% in London on Monday morning
12-month change: down 21%
By Heather Rydings; [email protected]
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