Derwent London Says Office Rent Collection For September Quarter Day Rises To 89%

Derwent London plc (DLN.L), a London-focused real estate investment trust or REIT, said Thursday that office rent collection for the September quarter day increased to 89 percent from 83 percent when last reported on 13 October 2020. Total portfolio rent collection for the same period increased to 86 percent from 80 percent.

Providing a portfolio update for the third quarter, the company said that 16 million pounds of leases were extended since June, with another 5 million pounds under offer.

"As we enter a second national lockdown in response to the global Covid-19 pandemic, we continue to work closely with our occupiers, business partners and communities. The significant operational progress made in the third quarter and the Group's strong financial position give us the confidence to commit to our next major development at 19-35 Baker Street," said Paul Williams, Chief Executive of Derwent London.

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