Derwent London buys RBS's Aldgate office for £132 million

Derwent London is buying Royal Bank of Scotland’s office opposite Aldgate East station, for £132 million, while its building in Old Street is filling up fast, the group said today.

In Whitechapel the London landlord will complete the deal with the bank in December, and which point the 255,000 square feet property will be vacant.

John Burns, chief executive of Derwent, said the deal brings the firm’s Tech Belt holdings to 2.4 million square feet.

Meanwhile at its White Collar Factory office development, two lettings have been agreed with The Office Group and structural engineers AKT II.

A combined rent of £4 million per year will be generated.

The deals come well ahead of the 237,000 square feet property being completed.

Burns added: “We have made an excellent start with the letting of almost 25% of the White Collar Factory to two occupiers who share our vision for this exciting multi-tenanted urban campus.”

Derwent was represented by Pilcher Hershman, DTZ and Cushman & Wakefield.

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