INDUSTRY NEWS

Fresh lease for Derwent London

Central London-focussed REIT Derwent London has let more than 24,000 square feet of office space to Fresh Trading, the company best known for its ‘Innocent’ smoothies brand. The company’s new premises will be at Derwent’s Portobello Dock development on the Grand Union Canal.

Portobello Dock comprises 50,000 square feet of London office space, situated on both sides of the canal, and thanks to Fresh Trading’s interest the development is now around 80 percent let. It is understood that the company has secured two years rent free, and is paying less than the headline price of £25 per square foot. The term of the lease is ten years.

Derwent’s CEO commented, ‘The volume of lettings this year is a vote of confidence by occupiers, across a wide variety of industries, in our approach to creating desirable and affordable space in which to live and work.’

Image: Flickr (ViZZZual.com)