LIBERUM RAISES DERWENT LONDON TO 'BUY' ('HOLD') - TARGET 3,500 (3,400) PENCE |
nick, the chart looks like Bart Simpson's haircut ;-) |
Who really knows which way this will go but im pretty sure ERVs are over optimistic at the likes DLN et al now. |
New City buildings planned as investors bet on post-pandemic return to London offices |
friday...
"..Derwent London was boosted by an upgrade to ‘outperform217; at Exane."
[...] |
Encouraging start for London office lettings, as take-up improves |
'China leads £46bn race for London property'
Commercial real estate in the UK capital is 'top of investor wishlists' despite a boom in home working during the pandemic |
Landlords sweeten rent-free office deals in London, as scores of people continue to WFH |
London’s office market pulls back from the brink
The shift to remote work fails to extinguish foreign demand for prime sites in the capital |
Fairly big change in holdings infers another RNS should be coming from a seller.
T. Rowe Price Associates, Inc. 5.01% > 10.01% |
 Property brings highs and lows for Independent
Independent (IIT) investment trust may have been ‘wrong-footed’ by housebuilders last year but manager Max Ward is backing West End property company Derwent London (DLN).
In final results to 30 November, in which the £288m trust reported a net asset value decline of 2.2%, Ward said he took a new stake in Derwent London.
He said the group was ‘a high-quality West End property company whose shares looked cheap following concerns about the impact of working from home on office property prices’.
Not all of Ward’s property plays paid off last year and he said he has put housebuilders ‘under review’ after the trust was ‘badly wrong-footed by the appearance of Covid-19’.
He admitted he was ‘slow to recognise’ the change in sentiment towards the sector as the pandemic hit and was forced to make ‘substantial sales at what turned out to be distressed prices’.
‘This net result was that we ended up buying high and selling low – a textbook example of how not to ply our trade, about which we feel suitably sheepish,’ he said. |
GOLDMAN SACHS RAISES DERWENT LONDON PRICE TARGET TO 4,000 (3,990) PENCE - 'BUY'
BANK OF AMERICA RAISES DERWENT LONDON PRICE TARGET TO 3,590 (3,170) PENCE - 'BUY' |
Aviva Investors shows £100m vote of confidence in London, with plans to create new office campus |
JPMORGAN RAISES DERWENT LONDON TO 'NEUTRAL' ('UNDERWEIGHT') TARGET 3,200 (2,850) PENCE |
Great Portland Estates reveals latest rent collection figures, as lockdown hits landlords |
RBC RAISES DERWENT LONDON PRICE TARGET TO 2,850 (2,750) PENCE - 'UNDERPERFORM' |
DLN rental update issued this morning and pretty positive as expected being an office centric operation. Nothing on leases so we won't know where there headed until next report as i doubt they will RNS adverse news on lease deals. |
philanderer that was retail side offices were at 95% so DLN should expect similar outcome but im interested in lease renewals but suspect they won't say anything on a rental collection update. |
British Land said that it had only collected 46% of the rents for the three months to the end of December as the lockdown and restrictions continue to see its tenants struggling to pay up.
PA News |
Still feel DLN are exposed to the c20% of leases on break or expiry over next 18mths so best upside is they roll over at same rents worst case lots of vacancies. |
Investor confidence in the London office market picks up following sales plunge, research shows
Investor spend on central London commercial property tumbled by £3.9 billion last year, but demand improved in the final quarter… |
mmmmmmmmmmm......
Boris Johnson predicts workers will flock back to offices when pandemic ends |
Reports of the death of the London office were proved greatly exaggerated again today after British Land sold £400 million of buildings in Marylebone, including its own head office. |
Offices and other commercial premises to share a £481m business rates rebate as the coronavirus pandemic triggers a surge in appeals |
Central London offices still attractive to investors, despite Covid-19 disruption |
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