Derwent London PLC (LSE:DLN)

£ 19.91 -0.02 (-0.1%) Market Cap: 2.24 Bil Enterprise Value: 3.61 Bil PE Ratio: 0 PB Ratio: 0.65 GF Score: 64/100

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Q1 2019 Derwent London PLC Business Update Call Transcript
May 09, 2019

Q1 2019 Derwent London PLC Business Update Call Transcript

May 09, 2019 / 08:00AM GMT

Release Date Price: £32.5 (+1.63%)

Transcript

Operator

Ladies and gentlemen, welcome to the Derwent London 2019 Q1 Business Update. My name is Jasmine, and I will be the operator for your call this morning.

(Operator Instructions)

I will now hand you over to John Burns.

John David Burns

Derwent London Plc - Founder, CEO & Director

Thank you, Jasmine. Good morning, and thank you for listening. I'm here with Paul, Damian and Nigel. First, I'm going to say a few words, then the call will open for questions.

The Central London office market continues to see good occupy demand, particularly for pre-lets. We already achieved GBP 17 million of new lettings this year, on average 6% above ERV.

Highlights were 2 further lettings inserting 83,000 square feet in Brunel building, our first office pre-letting of 103,000 square feet at Soho Place. We believe the fact that this deal was achieved so early, and the construction process is ample proof of the demand of well-designed buildings in good locations.

These significant deals mean that all the office space at Brunel

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