TIDMDLN 
 
RNS Number : 9002V 
Derwent London PLC 
20 July 2009 
 

3PRESS RELEASE 
 
 
 
 
20 JULY 2009 
 
 
 
 
Derwent London plc ("Derwent London" / "Company") 
 
 
DERWENT LONDON ANNOUNCES WEST END SALE 
13-17 FITZROY STREET, LONDON W1 
 
 
Derwent London has exchanged contracts on the sale of its freehold interest 
at 13-17 Fitzroy Street, London W1 to a member of the Arup group of 
companies ("Arup") for GBP60 million, which reflects a net initial yield of 7%. 
 
 
The sale price represents a decrease of 10% from the 31 December 2008 valuation, 
which compares to the IPD UK Monthly Property Index for West End & Midtown 
offices which showed a decline of 14.8% for the first six months of 2009. 
 
 
The property is fully let to Arup on a lease expiring 2023 at a rent of GBP4.46 
million per annum, subject to five-yearly upward only rent reviews. 
 
 
Prominently located on the corner of Fitzroy and Howland Street, the eight 
storey office building totals 90,420 sq ft (8,400 sq m). The property underwent 
a comprehensive redevelopment which completed in 2003 as the first of a three 
phase scheme to provide Arup's new global headquarters. Following the sale of 
Phase I Derwent London will retain the ownership of Phases II and III, with Arup 
occupying the remaining 147,700 sq ft (13,720 sq m) in its entirety. 
 
 
John Burns, Chief Executive of Derwent London said: 
 
 
"We are pleased to have agreed this significant sale which forms part of our 
programme to recycle capital. Arup is an important tenant on our Fitzrovia 
Estate with whom we have a long standing relationship. We are committed to the 
strategic regeneration of the Fitzrovia area, where our ownership extends to 
over one million sq ft and where we look forward to continuing to work closely 
with Arup." 
-ends- 
 
 
For further information please contact: 
 
 
Derwent London 
 
 
John Burns, Chief Executive, 
 
 
Tel - 020 7659 3000 
 
 
Brunswick Group 
 
 
Andrew Fenwick / James Rossiter 
 
 
Tel - 020 7404 5959 
 
 
 
 
Notes to editors: 
 
 
 
 
Derwent London plc 
 
 
Derwent London plc is the largest central London focussed REIT with an 
investment portfolio of GBP2.1 billion as at 31 December 2008.  The group is one 
of London's most innovative office regenerators and investors, well known for 
its established design-led philosophy and creative approach to development. In 
April, Derwent London was awarded the Property Week Property Company of the Year 
2009. 
 
 
Derwent London's core strategy is to acquire and own a portfolio of central 
London property that has reversionary rents and significant opportunities to 
enhance and extract value through refurbishment and redevelopment.  The group 
owns and manages an investment portfolio, of which 94% is located in central 
London, with a specific focus on the West End and the areas bordering the City 
of London. 
 
 
Landmark schemes by Derwent London include: Qube W1, Horseferry House SW1, 
Johnson Building EC1, Davidson Building WC2 and Tea Building E1. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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