StockMarketWire.com - Property company Derwent London reported increased rent collections for the first quarter of the year and £1.3 of new lettings achieved for the year to date as London emerged from lockdown.

About 93% of first quarter day rent has been collected, up from 87% on 13 April with another 4% expected later in the quarter.

Vacancy rate of 2.3% remained low, but was up from 1.8% in December 2020.

The company said it was currently procuring the main contractor at 19-35 Baker Street W1, a 297,000 sq ft scheme, with demolition to start in H2 2021.

Planning decisions, meanwhile, were expected in June 2021 on network building W1 for up to 130,000 sq ft.






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