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Derwent plans two central London office schemes

Derwent is hoping to develop over 30,000 sq ft of office space in London next year including schemes at the Turnmill in Clerkenwell and Hampstead Road in Euston.

The property and office specialist posted strong interim results this morning, reporting pre-tax profits of £216 million over the period compared to a pre-tax loss of £223m a year ago.

The value of its portfolio has risen by 10.3 per cent, or £200m since the end of December last year.

The firm will submit revised plans for a 68,000 sq ft development at the old Turnmills nightclub in Clerkenwell after the original planning application was refused in May. Other planning applications in preparation include the 265,000 sq ft ‘White Collar Factory’ office development in Hampstead Road, Euston.

Chief executive John Burns said: “We are pleased to announce a strong set of results for the first six months of 2010. Since the half year further good letting progress has been made with 8,100m2 (87,200 sq ft) of floorspace either let or placed under offer at an annual rental income of £1.9m.

“The defensive qualities of the central London office market remain.”