REG - Derwent London PLC - Derwent London plc Disposal of 90 Whitfield Street

Derwent LondonAnnouncement

26/02/2026 07:45

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RNS Number : 5206U  Derwent London PLC  26 February 2026

 Derwent London plc ("Derwent London" / "the Group")

 Disposal of 90 Whitfield Street W1

Derwent London is pleased to announce that it has exchanged contracts with
Lone Star Real Estate for the disposal of 90 Whitfield Street W1 for £110.5m
before costs. The sale price reflects a capital value of c.£1,100 psf, a 5.0%
net initial yield and is slightly below December 2025 book value. Completion
is scheduled for August 2026.

This 103,500 sq ft Fitzrovia freehold property, which was developed in 2007,
has a passing income of £5.9m pa, is 88% occupied by area and has a
relatively short WAULT to break of 3.7 years. The sale is expected to be
broadly earnings neutral and will reduce the Group's leverage ratios.

Paul Williams, Chief Executive of Derwent London, said:
"Following the successful conclusion of a number of recent lettings, we took
the decision to dispose of this relatively mature property. Capital recycling
is a key component of our business model and the proceeds have been earmarked
for reinvestment into higher returning opportunities. These include capital
expenditure at our major projects, where we forecast attractive IRRs, as well
as other alternative accretive uses."

For further information, please contact:

 Derwent London                             Paul Williams, Chief Executive

 Tel: +44 (0)20 3478 4217 (Robert Duncan)   Richard Dean, Director of Investment

                                            Robert Duncan, Head of Investor Relations
 Brunswick Group                            Nina Coad

 Tel: +44 (0)20 7404 5959                   Peter Hesse

 

Notes to editors

Derwent London plc

Derwent London plc owns a commercial real estate portfolio predominantly in
central London valued at £5.1 billion as at 31 December 2025, making it the
largest London office-focused real estate investment trust (REIT).

Our experienced team has a long track record of creating value throughout the
property cycle by regenerating our buildings via redevelopment or
refurbishment, effective asset management and capital recycling. We typically
acquire central London properties off-market with low capital values and
modest rents in improving locations, most of which are either in the West End
or City Borders. We capitalise on the unique qualities of each of our
properties - taking a fresh approach to the regeneration of every building
with a focus on anticipating tenant requirements and an emphasis on design.
Reflecting and supporting our long-term success, the business has a strong
balance sheet with modest leverage, a robust income stream and flexible
financing.

We are frequently recognised in industry awards for the quality, design and
innovation of our projects. Landmark buildings in our 5.3 million sq ft
portfolio include 25 Baker Street W1, 1 Soho Place W1, 80 Charlotte Street W1,
Brunel Building W2, White Collar Factory EC1, Angel Building EC1 and Tea
Building E1.

As part of our commitment to lead the industry in mitigating climate change,
Derwent London has committed to becoming a net zero carbon business by 2030,
publishing its pathway to achieving this goal in 2020. Our science-based
carbon targets have been validated by the Science Based Targets initiative
(SBTi). In 2013, we launched a voluntary Community Fund which to date has
supported 200 community projects in central London.

The Company is a public limited company, which is listed on the London Stock
Exchange and incorporated and domiciled in the UK. The address of its
registered office is 25 Savile Row, London, W1S 2ER.

For further information see www.derwentlondon.com
(http://www.derwentlondon.com) or follow us on LinkedIn.

Forward-looking statements

This document contains certain forward-looking statements about the future
outlook of Derwent London. By their nature, any statements about future
outlook involve risk and uncertainty because they relate to events and depend
on circumstances that may or may not occur in the future. Actual results,
performance or outcomes may differ materially from any results, performance or
outcomes expressed or implied by such forward-looking statements.

No representation or warranty is given in relation to any forward-looking
statements made by Derwent London, including as to their completeness or
accuracy. Derwent London does not undertake to update any forward-looking
statements whether as a result of new information, future events or otherwise.
Nothing in this announcement should be construed as a profit forecast.

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