Derwent London lands £160m double deal

A £160 million portfolio reshuffle is setting the tone for Derwent London's second half of the year, with two Central London assets sold - including Burberry's long-standing headquarters at Horseferry House.

Leading the disposals was the £131.8 million transaction, bringing Derwent London's 21-year ownership of Horseferry House to a close. The deal delivered an 8.4% ungeared internal rate of return, with the landmark acquired by Indonesian investment giant, Sinar Mas Land. CBRE and Michael Elliott advised Derwent London on the transaction, while Fineman Ross acted for the buyer.

Meanwhile, Derwent London's major portfolio move continued at 80-85 Tottenham Court Road, where the asset changed hands for £32.6 million. Acquired by a joint venture between Purestone Capital and BPS London, the sale completed with vacant possession of the offices and reflects a capital value of £755 per sq ft.

The acquisition marks the first investment for the newly launched value-add platform led by Rishi Khurana and Mahir Vachani, signalling the venture's arrival in the Central London office market.

With two deals now complete, attention has already shifted to 1 Page Street. Following Burberry's exit and the commencement of strip-out works, Derwent London has launched a sales campaign for the SW1 building, positioning it as a significant residential conversion opportunity.

Derwent London’s Chief Executive Officer, Paul Williams, said: “Since the start of 2026, we have agreed or completed sales totalling £279 million, making good progress towards our £400 million target for the year. Proceeds of £160 million 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.”

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