West End and City office space landlord Derwent London has reported a sharp pick-up in business this week.
The firm, who owns office property in the City and West End areas of London, announced a 9.8% rise in the value of its property portfolio over the last half of 2009. The figures partly offset the 12.3% drop in the first half of 2009, which left the portfolio down 3.3% for the whole of 2009. Derwent had previously reported losses of £34.9 million for 2009, which was an improvement on the £606.5 million in 2008. Property values in 2008 had also dropped by 22.1%. (more…)