Derwent hails "best ever" year for lettings

Real investment trust Derwent London has hailed 2015 as the “best ever” year for lettings.

The group said it has rented 501,500 sq feet of space so far in 2015, for a total return of £26.1m per year, with overall lettings 10.8% ahead of estimated rental value as recorded in December last year.

In the three months to 30 September, the group secured lettings for 171,900 sq feet, equivalent to an annual rental income of £9.5m, 12%.5 higher than the estimated rental value it recorded in June.

The FTSE 250 group added it has 398,000 sq feet of space under construction, with construction on a further 620,000 sq feet due to get underway in June next year.

"The current year is our best ever for lettings,” said group chief executive John Burns.

“We have also successfully recycled some more mature assets into several major opportunities and the group's development activity demonstrates confidence that the high level of occupier demand for our product is set to continue.”

Derwent shares were up 0.92% to 3,712.00p at 0900 GMT on Thursday.