Network building fully pre-let
Network W1 office building fully pre-let to Databricks on 15-year lease at £14.1m annual rent
- Network W1 pre-let area 136,300 sq ft
- Annual rent from Databricks £14.1m
- Lease term 15 years with break at year 10
- Lettings agreed since start of 2026 £15.7m
- Lease renewals and regears £2.1m
- Transactions under offer £4.3m
Select text to share a quote on X · sign in to keep highlights & notes in your DLN notes
Derwent London is pleased to announce that it has pre-let the entire 136,300 sq ft of offices at Network W1 to Databricks, a data and AI company, on a 15-year lease with a break at year 10. The annual rent is £14.1m.
The London office market is entering a period of very low new supply while demand remains robust, sector diverse and focused on the right space in well-connected locations, supporting the strong rental growth outlook. Network provides amenity-rich, adaptable and sustainable space which meets the requirements of modern occupiers.
Paul Williams, Chief Executive of Derwent London, said:
"We are delighted to have pre-let all of the offices at Network W1 to Databricks shortly before completion at a rent which reflects the quality of the space we are delivering. This maintains our long and successful pre-letting track record. Momentum is strong across the business and since the start of 2026, we have now agreed lettings totalling £15.7m of rent with lease renewals and regears adding a further £2.1m. In addition, we have £4.3m of transactions under offer."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.