Derwent London
Template:Short description Template:Use dmy dates Template:EngvarB Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters".
Derwent London plc is a British-based property investment and development company. It is headquartered in London and is a constituent of the FTSE 250 Index.
History
The business was originally established as the operator of the Derwent Valley Light Railway, which opened in 1913.[1] The railway closed in 1981 and in 1984 John Burns used the former operating company, Derwent Valley Holdings, as the vehicle with which to develop his London-based property business. It joined the FTSE EPRA/NAREIT Developed Europe index on 31 December 1999 when it was launched, trading under the name Derwent Valley Holdings.[2]
In 2007 Derwent Valley Holdings merged with London Merchant Securities plc to form Derwent London.[3] This deal was hailed as "the deal of the decade" by the editor of Property Week.[4] In July 2007 the company converted to a real estate investment trust.[5]
Operations
The Group is organised as one business – property investment and development. At 31 December 2024 its portfolio was valued at £4.9bn.[6]
Fitzrovia portfolio
From the merger with London Merchant Securities the company acquired Script error: No such module "convert". of property to add to its existing Fitzrovia portfolio. This gave the company about Script error: No such module "convert". of property over more than 30 sites in Fitzrovia; about one fifth of the company's total portfolio. In November 2009 the company announced plans to transform part of Fitzrovia in central London into a new retail destination with cafes and restaurants.[7][8] The company's plans were criticised in the local paper Fitzrovia News who accused the company of wanting to change the character of the neighbourhood.[9]
In July 2010 the company held an exhibition outlining its proposals for the Saatchi building in Charlotte Street: Fitzrovia News reported that Camden Council had confirmed that the Fitzrovia Partnership was intending to become a Business Improvement District (BID).[10]
The Turnmill Building Farringdon
In 2009 the company's plans to demolish Farringdon's famous Turnmills were turned down by London Borough of Islington after a campaign to save the building by local people. The company wanted to replace the 19th-century stables building with a glass and steel tower block. The company then appealed to the planning inspectorate, but their appeal was refused.[11] Subsequently, a revised planning application was granted approval and work on the new building commenced in April 2012.[12] This will create a 70,000 sq ft office and retail property close to the new Farringdon station Crossrail interchange.[13]
References
<templatestyles src="Reflist/styles.css" />
- ↑ The Derwent London trend that bucks the market The Telegraph, 29 August 2007
- ↑ Script error: No such module "citation/CS1".
- ↑ London Merchant swept off feet by Derwent's offer The Times, 15 November 2006
- ↑ Barrie’s blog: winners and losers of the 'noughties' Template:Webarchive Property Week
- ↑ Derwent London set to join UK REITs Template:Webarchive Property EU, 20 March 2007
- ↑ Cite error: Script error: No such module "Namespace detect".Script error: No such module "Namespace detect".
- ↑ Project banks on Fitzrovia’s bohemian appeal Financial Times, 6 November 2009
- ↑ Derwent plots Fitzrovia revamp Property Week, 6 November 2009
- ↑ Plan to turn "little oasis" into retail precinct, Fitzrovia News, 24 November 2009
- ↑ Derwent London believe nothing is impossible in Fitzrovia Fitzrovia News, 12 July 2010
- ↑ Turnmill building saved from demolition Template:Webarchive, Islington Tribune, 28 May 2010. Retrieved 18 September 2010
- ↑ Script error: No such module "citation/CS1".
- ↑ Script error: No such module "citation/CS1".
Script error: No such module "Check for unknown parameters".
External links
Template:Real estate in the United Kingdom Script error: No such module "Navbox".
- Pages with script errors
- Pages with reference errors
- Pages with broken file links
- Real estate companies established in 1913
- Real estate investment trusts of the United Kingdom
- Property companies based in London
- 1913 establishments in England
- Companies listed on the London Stock Exchange
- Companies in the FTSE 250 Index