Horseferry House and 80-85 Tottenham Court Road
Completed disposals of Horseferry House and 80-85 Tottenham Court Road for £160m net proceeds.
- Horseferry House sale price £131.8m
- Horseferry House net yield to purchaser 6.0%
- Horseferry House ungeared IRR 8.4%
- 80-85 Tottenham Court Road sale price £32.6m
- 80-85 Tottenham Court Road capital value £755 psf
- Net proceeds received £160m
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Derwent London plc ("Derwent London" / "the Group") Completion of Horseferry House and 80-85 Tottenham Court Road disposals
Derwent London is pleased to announce that the previously reported disposals of Horseferry House SW1 and 80-85 Tottenham Court Road W1 have now completed with net proceeds of £160m received.
Ÿ Horseferry House: sold to an overseas investor for £131.8m (£129.3m net of rental top ups), a 6.0% net yield to the purchaser, and delivering an ungeared IRR of 8.4% over our 21-year ownership.
Ÿ 80-85 Tottenham Court Road: sold to a private joint venture for £32.6m (before costs) with vacant possession of the offices, reflecting a capital value of £755 psf.
In addition, the sales campaign for 1 Page Street SW1 has been launched. This follows Burberry's decision to vacate and the commencement of strip-out works. The building offers a significant residential conversion opportunity.
Paul Williams, Chief Executive of Derwent London, said:
"Since the start of 2026, we have agreed or completed sales totalling £279m, making good progress towards our £400m target for the year. Proceeds of £160m have now been received and 90 Whitfield Street W1 is on track for completion in August. We remain focused on redeploying receipts accretively and in line with our capital allocation framework."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.