Derwent London (DLN)

Sector:

Property Investment Trusts

Index:

FTSE 250

2,342.00p
   
  • Change Today:
      2.00p
  • 52 Week High: 2,402.00
  • 52 Week Low: 1,779.00
  • Currency: UK Pounds
  • Shares Issued: 112.29m
  • Volume: 1,274
  • Market Cap: £2,629.85m
  • RiskGrade: 145

Derwent London offloads 19 Charterhouse Street asset for £54m

By Iain Gilbert

Date: Monday 16 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Real estate investment trust Derwent London has agreed to sell its 63,170 square foot freehold interest in 19 Charterhouse Street in East London for £54.0m before costs.
Derwent London said on Monday that the building, which was purchased in November 2013 for £41.3m after costs, was currently occupied by the London College of Accountancy on a lease expiring in August 2025.

The FTSE 250-listed group stated the disposal price represented a 4.6% net initial yield to the purchaser, had a capital value of £855 per square foot, and reflected "a marginal discount" to the site's June 2022 book value.

Chief executive Paul Williams said: "This sale forms part of our ongoing strategy of reducing our exposure to smaller buildings with less repositioning potential.

"As the flight to quality continues and occupiers become increasingly selective, proceeds will be recycled into our exciting development pipeline where we are currently on site with 435,000 square feet of net zero carbon projects which we expect will deliver attractive returns."

As of 0820 GMT, Derwent shares were untraded at 2,596.0p.





Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Derwent London Market Data

Currency UK Pounds
Share Price 2,342.00p
Change Today 2.00p
% Change 0.09 %
52 Week High 2,402.00
52 Week Low 1,779.00
Volume 1,274
Shares Issued 112.29m
Market Cap £2,629.85m
RiskGrade 145

Derwent London Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
23.24% below the market average23.24% below the market average23.24% below the market average23.24% below the market average23.24% below the market average
85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average85.19% below the sector average
Price Trend
12.84% above the market average12.84% above the market average12.84% above the market average12.84% above the market average12.84% above the market average
53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average53.33% above the sector average
Income
11.9% below the market average11.9% below the market average11.9% below the market average11.9% below the market average11.9% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Growth
54.43% below the market average54.43% below the market average54.43% below the market average54.43% below the market average54.43% below the market average
51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average51.72% below the sector average

What The Brokers Say

Strong Buy 6
Buy 5
Neutral 6
Sell 1
Strong Sell 1
Total 19
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Derwent London Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-24 07-Sep-23
Paid 31-May-24 13-Oct-23
Amount 55.00p 24.50p

Trades for 19-Jun-2024

Time Volume / Share Price
08:56 28 @ 2,342.00p
08:56 29 @ 2,340.00p
08:56 24 @ 2,340.00p
08:56 24 @ 2,340.00p
08:55 1 @ 2,334.00p

Derwent London Key Personnel

CEO Paul M. Williams
CFO Damian Wisniewski

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