Derwent London rents to Burberry
Property firm Derwent London has pre-let the entire space of a location in southwest London to luxury brand Burberry.
Property firm Derwent London has pre-let the entire space of a location in southwest London to luxury brand Burberry.
Burberry will pay a rent of £5.3m per annum at the 11-floor building at 1 Page Street, comprised of £50 per sq ft (£540 per m2) on the top three floors and £45 per sq ft (£485 per m2) on a typical mid-level floor.
The lease is for a 20-year term with a tenant-only break option in year 10, rent reviews every five years and a rent-free period equivalent to 22 months. The first rent review will be subject to a minimum uplift to £5.7m per annum.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price fell 0.58% to 1,714.00p by 14:31.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
73% of savers plan to rely on partner’s pension in retirement
A new survey suggests the majority of people may lack financial independence in retirement, with almost three-quarters set to rely on their partner’s pension
-
How much you need to follow the 25x retirement rule – will you have enough to be financially independent?
We explain what the 25x retirement rule is and the amount you would need to be financially independent in retirement.