Derwent London Plc (LON:DLN) has announced that it has completed a significant lease extension and expansion with long-standing occupier Adobe at White Collar Factory EC1.
Driven by its evolving workforce requirements, Adobe has expanded its footprint by 25% to 67,000 sq ft, leasing an additional 13,400 sq ft. In addition, Adobe has reaffirmed its long-term commitment to the building, extending their occupation to 2038 (with a break in 2033). The overall rent has increased to £4.5m, with the new rent agreed ahead of December 2024 ERV.
Adobe’s decision demonstrates the value that occupiers place on high-quality offices with amenities such as DL/Service at White Collar Factory, and the importance of our DL/Lounges, with DL/28 located at our adjacent Featherstone Building.
Paul Williams, Chief Executive of Derwent London, said:
“We are delighted that Adobe – a global leader in creativity and innovation – has chosen to extend and expand its occupancy with us. Their ongoing commitment reflects the strength of our partnership and our ability to provide flexible, design-led space which is adaptable to changing occupier needs. With companies continuing to increase their office footprint, this deal further highlights the quality of our portfolio as well as the buoyancy of London’s office market and its position as the HQ capital of Europe. We are proud to support ambitious businesses like Adobe as they grow and succeed with us.”
