TIDMDLN 
 
RNS Number : 9547O 
Derwent London PLC 
17 March 2009 
 
 
 
 
 
 
17 March 2009 
 
 
 
 
Derwent London plc ("Derwent London" / "Company") 
 
 
DERWENT LONDON ANNOUNCES SALE OF 
28 DORSET SQUARE, LONDON NW1 
 
 
Derwent London has exchanged contracts on the sale of its freehold interest in 
28 Dorset Square, London NW1 to a private UK investor for GBP17 million. 
 
 
The sale price reflects a net initial yield of 6.1% and represents a 5% premium 
over the 31 December 2008 valuation. 
 
 
Located next to Marylebone station, the four-storey office building totals 
23,530 sq ft and comprises 26, 27 and 28 Dorset Square and 2, 4 and 6 Boston 
Place. The property underwent comprehensive refurbishment in 2006 and was 
subsequently let to Bacardi Global Brands Limited on a 15-year lease, expiring 
in 2021, at a rent of GBP1.1 million per annum. The rent is subject to an upward 
only rent review in 2011 and five-yearly thereafter. 
 
 
The 2006 redevelopment of the property was undertaken by architects John McAslan 
+ Partners and won a Royal Institute of British Architects (RIBA) Design Award 
in 2007. 
 
 
John Burns, Chief Executive of Derwent London, comments: 
 
 
"This transaction represents the continuation of our selective disposals 
programme of mature assets in order to recycle capital within the portfolio. 
We are pleased to have secured this sale at a 5% premium to the December 
year-end valuation." 
 
 
-ends- 
 
 
 
 
For further information please contact: 
 
 
+---------------------------------------+---------------------------------------+ 
| Derwent London                        | Financial Dynamics                    | 
| John Burns, Chief Executive           | Stephanie Highett / Dido Laurimore    | 
| Tel: +44 (0)20 7659 3000              | Tel: +44 (0)20 7831 3113              | 
+---------------------------------------+---------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 DISDGGDXDGBGGCL
Derwent London (LSE:DLN)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Derwent London Charts.
Derwent London (LSE:DLN)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Derwent London Charts.