Fleet Street Letter recommendation. |
Sold out for now.
Luck to all holders. |
British Land's Broadgate deal is a 'vote of confidence' in the struggling London office market |
JEFFERIES RAISES DERWENT LONDON PRICE TARGET TO 4,108 (4,010) PENCE - 'BUY' |
FTSE 100 firms share latest London office plans following WFH year, with many set to embrace flexible working |
BERENBERG RAISES DERWENT LONDON PRICE TARGET TO 3,700 (3,500) PENCE - 'BUY' |
Central London office lettings plunged in lockdown year, but enquiries picking up |
City goes back to the office in eight days: US banks in first wave of firms letting some workers return as stay at home rule is dropped |
The future is flexible: After WFH year, firms look at how the office will be used in future |
QD view – property one year on from lockdown
Businesses will still have a shiny HQ office and will continue to need attractive space to appeal to talent. They just may not need as much of it. This, I believe, will have a bigger impact on the older, poorly located offices than on prime offices.
There is likely to be a flight to quality that will benefit the likes of British Land (BLND), Great Portland Estates (GPOR), Derwent London (DLN) and Helical (HLCL), which all have quality portfolios in London. Rents are expected to stall from an overall drop in demand, however, supply of office space has been at historic lows for a while. Permitted development rights allowing office-to-residential conversion and development caution will limit supply. |
Laing O’Rourke is battling Sir Robert McAlpine in the race to build a new mixed-use scheme for Derwent on London’s Baker Street.
The pair are the remaining two left in the race for the work at 19-35 Baker Street which is believed to have a price tag of close to £100m. |
DEUTSCHE BANK RAISES DERWENT LONDON PRICE TARGET TO 3,400 (3,250) PENCE - 'HOLD' |
Derwent London: Peel Hunt reiterates hold with a target price of 3,100p. |
Derwent London predicts offices will be used differently, with fewer desks in future |
Results more resilient than i was expecting so have been wrong footed over this one. They've dealt with half of the 2021 breaks/expiries so that threat diminishing. Interesting to note the scale of vacancies in London Office mkt now and thats bound to depress rents over the longer term but they do have a lot baked in from pre development lets so maybe a few years before any impact shows up.
Yield too low for me. |
Purchase by director Mark Breuer this morning.
4,000 x GBP33.11709 = £132,468 |
philanderer thanks for that. Our sector is a small part of overall property scene and majority have some sort of arrangement with tenants. My concern is a lot of rent is on deferrals with some propcos who are reporting it as income but cash hasn't come and their receivables are creeping up. I see many will have to take provisions in due course but at least most have reset the dividends to match the available cash. |
Results thursday. |
Unpaid rent bills for commercial property during pandemic could reach £7 billion |
I messed up on the results day , it's 11th march. |
philanderer Mr Market doesn't seen to see a problem Another one getting into shorting territory. |
London office and retail landlords react to WFH until June guidance, with Helical and Landsec sharing views |
London landlords sound alarm over impacts from the pandemic on capital, and call for more government support
.....The signatories include staff from a number of London’s commercial property owners, including Derwent London and Shaftesbury. |
Full year results next thursday. |
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
Hot Features
Premium
