Mishcon de Reya's Real Estate team has advised Derwent London on the pre-let of the entire 136,300 sq ft of offices at the Network W1 building on Tottenham Court Road to Databricks, a data and AI company. Network W1 is a 141,200 sq ft officeled scheme in Fitzrovia, designed as a lowcarbon development targeting BREEAM Outstanding, LEED Gold, EPC A and NABERS 4.5star ratings.
The firm has also advised Derwent London on the £110.5 million sale of its 103,500 sq ft Fitzrovia asset at 90 Whitfield Street to US private equity firm, Lone Star Real Estate. The property comprises 95,100 sq ft of fully developed office space and 8,400 sq ft of retail. The disposal is part of Derwent's broader disposal strategy, and reflects ongoing investor confidence in the central London office market.
The Mishcon de Reya team was led by Commercial Real Estate Partner Edward Hughes-Power, with assistance from Adam Goldthorp, Adrian de Mello, Emily Daniel, Emily Chandler and Ceinwen Hayes.
Ed commented "We are delighted to have advised Derwent London on these two significant transactions. Both underline the importance of premium quality, sustainable office space to London's office market."
With over 140 fee earners, including 46 partners, Mishcon de Reya's Real Estate department is one of London's largest and most diverse property teams. Our Real Estate department includes well-regarded specialist practice areas and provides a one-stop shop for all of our clients' property requirements, delivering a seamless service from investment, structuring, funding, acquisition and planning, through to construction, development, tax and litigation advice. Real Estate is one of the three key strategic sectors outlined in the firm's Vision 2030 strategy.