Derwent London Plc (LON:DLN) has announced that the previously reported disposals of Horseferry House SW1 and 80-85 Tottenham Court Road W1 have now completed, with net proceeds of £160m received.
Horseferry House: sold to an overseas investor for £131.8m (£129.3m net of rental top ups), a 6.0% net yield to the purchaser, and delivering an ungeared IRR of 8.4% over 21 years of ownership.
80-85 Tottenham Court Road: sold to a private joint venture for £32.6m (before costs) with vacant possession of the offices, reflecting a capital value of £755 psf.
In addition, the sales campaign for 1 Page Street SW1 has been launched. This follows Burberry’s decision to vacate and the commencement of strip-out works. The building offers a significant residential conversion opportunity.
Paul Williams, Chief Executive of Derwent London, said:
“Since the start of 2026, we have agreed or completed sales totalling £279m, making good progress towards our £400m target for the year. Proceeds of £160m have now been received and 90 Whitfield Street W1 is on track for completion in August. We remain focused on redeploying receipts accretively and in line with our capital allocation framework.”
