Derwent London has seen its rental income inch closer to £100m in the past six months, as demand for office space in the capital swells.
Rental income rose over four per cent to £93.9m in the six months to 30 June up from £90.1m in the same period last year.
As the so-called “flight to quality” continues and demand for London postcodes grows, as do rents.
Lettings have grown more than nine per cent to £7.1m since December last year. While renewals and regears have jumped eight per cent to £6.2m since the end of 2021.
The London-listed office space giant has rewarded shareholders with an interim dividend increase from 23p to 24p.
“We are seeing good demand for our distinctive brand of high quality offices, with short supply of prime space in our core locations,” chief executive Paul Williams said in a statement.
“Despite the uncertain macro environment, the continuing flight to quality combined with our strong financial position gives us confidence that we are well placed with a pipeline of value-adding opportunities.”