Derwent London Share Discussion Threads

[philanderer] 06/3/2019 19:37

Building work starts on ‘first new West End theatre in 50 years’

Building work has started on a £195 million development in London, which includes what is billed as the first new theatre to be built in the West End for almost 50 years.

Nimax Theatres, which already runs six West End venues, will operate the 600-seat theatre, which will be located above the new Tottenham Court Road Crossrail Station.

The entire Soho Place development will comprise a nine-storey building split into three office floors above the theatre and another 10-storey building with retail and office space.

The development is due to be completed in November 2021.

Construction company Laing O’Rourke will deliver the scheme for developers Derwent London.

Planning documents reference construction and fit-out costs in excess of £25 million for the theatre.

Richard Baldwin, head of development of Derwent London, said: “We are very excited about the prospects for Soho Place, which will be a great building in one of the best locations in London.

“We are also very pleased to be working with Laing O’Rourke, who we believe have the capabilities to deal with the complexity of the site.”

Nimax confirmed it would be operating the new theatre but did not comment further.

[philanderer] 06/3/2019 12:00

Derwent London is pleased to announce the exchange of contracts to sell the freehold of Premier House,10 Greycoat Place, Victoria SW1 for £50.0m before costs. The 60,700 sq ft office was entirely let to IWG on a lease which expired on 1 March 2019. The disposal price is c.10% above December 2018 book value.

[philanderer] 04/3/2019 10:00

4th march Deutsche 'hold' ..... tp 3600p up from 3200p

[dplewis1] 28/2/2019 12:48

British construction company Laing O'Rourke has signed contracts worth £195m with Derwent London for the Soho Place, a mixed-use scheme that is being developed on Tottenham Court Road W1.

[philanderer] 27/2/2019 12:09

UBS reiterates 'buy'

[dplewis1] 26/2/2019 11:06

Slow reaction but looking like the numbers are sinking in now. Nice bump to the divi too

[philanderer] 26/2/2019 10:11

"Demand for central London offices remains very active and we have been able to outperform the market through our development activities. Our brand of well-designed office space remains attractive to tenants. With its strong financial position, high quality portfolio and pipeline of exciting opportunities, this positions the group for continued success," said Chief Executive John Burns.

Looking ahead, Derwent said making any short-term predictions is "difficult" due to the "many major" political decisions still unresolved. Longer term, however, Derwent said it is confident in London's prospects and status as a global city.

Derwent believes its financial position means it is placed to "take advantage" of any opportunities should London offices "suffer an unexpected downturn".

Alliance News

[philanderer] 26/2/2019 09:15

😊👍


edit:

1st in..

26th feb Peel Hunt hold tp 3100p

[philanderer] 22/2/2019 12:35

Results tuesday.

[philanderer] 21/2/2019 13:50

Nice bounce up today . Stronger £ helping 'domestics'

[philanderer] 20/2/2019 14:02

Yes , I was down that way a few weeks ago at Wilton's Music Hall :-)

[philanderer] 20/2/2019 13:21

Derwent London sells 9 Prescot Street E1

20 Feb 2019

Derwent London and LaSalle Investment Management (“LaSalle”), in a 50:50 joint venture, are pleased to announce the exchange of contracts on the freehold sale of 9 Prescot Street E1 (“the property”) for £53.85m before costs, to CLS Holdings plc. The disposal is in excess of December 2018 book value.

[dplewis1] 18/2/2019 10:50

Have PGGM gone from 0 to 6.65% in one go?

[philanderer] 13/2/2019 18:20

London Offices Lose No Matter Who Wins in the Brexit Battle





Great Portland Estates and Derwent London fell on the back of initiations at 'sell' by Berenberg, with analysts at the broker issuing respective target prices of 600p and 2,650p as they examined the sector as a whole and the impact of possible Brexit scenarios.

"We expect less desirable, secondary assets to come under the greatest pressure, but prime assets are unlikely to be immune. Derwent and Great Portland, which have significant secondary asset exposures due to medium-term pipelines and falling development activity, remain most exposed," said a note from the broker.

[philanderer] 13/2/2019 13:53

Market report..

Towards the other end of the mid-caps were Great Portland Estates and Workspace Group, both down 1.3%, with Derwent London down 1.0% after rating action from Berenberg.

The German bank started both Derwent and Great Portland with Sell ratings, while it lowered its recommendation on Workspace Group to Hold from Buy.

"Although we acknowledge an improvement in portfolio quality and applaud the deleveraging activity undertaken to date, we still expect a cyclical market correction to impact the listed sector meaningfully," commented Berenberg in a note on the listed London office market.

Alliance News

[philanderer] 13/2/2019 08:36

Negative vibe again today..

13th feb Morgan Stanley 'underweight ' ... reterates

[philanderer] 12/2/2019 09:59

Indeed :-)

[dplewis1] 12/2/2019 09:41

RBC initiates with underperform and 2500p target. Tier 3 bank anyway..haha.

[philanderer] 08/2/2019 17:33

Liberum Capital reconfirmed their “Hold” rating on Derwent London (LON:DLN) in an analyst report revealed to investors on 8 February.

[philanderer] 01/2/2019 19:22

Good week and we may have chart breakout.

[philanderer] 29/1/2019 18:36

The Brunel Building adjacent to Paddington station is worth a look 👍

[dplewis1] 29/1/2019 18:13

Great company doing all the right things..sadly not helped by the ridiculous political situation. I quite often walk past the white collar factory on old street and think it looks like a fantastic place to work.