According to received wisdom, there is a resilience about the central London commercial property market that sets it apart from the regions.
Even if rents and asset values are hit by economic cycles, businesses will always want to occupy space in the capital and will be prepared to pay a premium rate per square foot to be in the smartest places to work. At least that’s the theory.
It’s hard to imagine a landlord more exposed to the fluctuation of this part of the commercial property sector than Derwent London. It was established to operate the Derwent Valley Light Railway, which ran from 1913 to 1981. After its closure, John Burns, 75, the developer, used it and the value of its assets to develop a