Derwent London buys a fresh slice of Tech City

Property Week understands that Derwent is due to announce at its company results that it has exchanged contracts on the off-market purchase of 1 Mark Square, off Leonard Street in Shoreditch.

The REIT is thought to have paid between £25m and £30m for the block, which is let to Thomson Financial until 2017.

The site is close to a separate Thomson building, at 37-45 City Road, that Helical Bar bought in June for a refurbishment project. It has appointed architect Buckley Gray Yeoman to work up plans to refurbish the 70,000 sq ft former warehouse, ahead of vacant possession being obtained at the end of 2013.

The aim at both schemes is to attract creative occupiers clustering in the so-called Tech City area.


Source: Nick Johnstone, PropertyWeek