Derwent London plc is a British-based property investment and development company. It is headquartered in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

and is a constituent of the

FTSE 250 Index The Financial Times Stock Exchange 250 Index, also called the FTSE 250 Index, FTSE 250, or, informally, the "Footsie 250" , is a stock market index that consists of the 101st to the 350th mid-cap blue chip companies listed on the London Stock ...

History

The business was originally established as the operator of the

Derwent Valley Light Railway The Derwent Valley Light Railway (DVLR) (also known as The Blackberry Line) was a privately owned standard-gauge railway in North Yorkshire, England, and was unusual in that it was never nationalization, nationalised, remaining as a private ...

, which opened in 1913. The railway closed in 1981 and in 1984

John Burns John Elliot Burns (20 October 1858 – 24 January 1943) was an English trade unionist and politician, particularly associated with London politics and Battersea. He was a socialist and then a Liberal Member of Parliament and Minister. He was ...

used the former operating company, Derwent Valley Holdings, as the vehicle with which to develop his London-based property business. It joined the FTSE EPRA/NAREIT Developed Europe index on 31 December 1999 when it was launched, trading under the name Derwent Valley Holdings. In 2007 Derwent Valley Holdings merged with London Merchant Securities plc to form Derwent London. This deal was hailed as "the deal of the decade" by the editor of ''Property Week''. In July 2007 the company converted to a

real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...

Operations

The Group is organised as one business – property investment and development. At 31 December 2024 its portfolio was valued at £4.9bn.

Fitzrovia portfolio

From the merger with London Merchant Securities the company acquired of property to add to its existing

Fitzrovia Fitzrovia ( ) is a district of central London, England, near the West End. Its eastern part is in the London Borough of Camden, and the western in the City of Westminster. It has its roots in the Manor of Tottenham Court, and was urbanised in ...

portfolio. This gave the company about of property over more than 30 sites in Fitzrovia; about one fifth of the company's total portfolio. In November 2009 the company announced plans to transform part of Fitzrovia in central London into a new retail destination with cafes and restaurants. The company's plans were criticised in the local paper Fitzrovia News who accused the company of wanting to change the character of the neighbourhood. In July 2010 the company held an exhibition outlining its proposals for the Saatchi building in Charlotte Street: Fitzrovia News reported that Camden Council had confirmed that the Fitzrovia Partnership was intending to become a

Business Improvement District A business improvement district (BID) is a defined area within whichever businesses elect to pay an additional fee (or assessment) in order to fund projects within the district's boundaries. A BID is not a tax, as taxes fund the government. BID f ...

(BID).

The Turnmill Building Farringdon

In 2009 the company's plans to demolish Farringdon's famous Turnmills were turned down by

London Borough of Islington The London Borough of Islington ( ) is a London borough, borough in North London, England. Forming part of Inner London, Islington has an estimated population of 215,667. It was formed in 1965, under the London Government Act 1963, by the amalg ...

after a campaign to save the building by local people. The company wanted to replace the 19th-century stables building with a glass and steel tower block. The company then appealed to the planning inspectorate, but their appeal was refused. Subsequently, a revised planning application was granted approval and work on the new building commenced in April 2012. This will create a 70,000 sq ft office and retail property close to the new

Farringdon station Farringdon () is an interchange station located in Clerkenwell, London, England, in the London Borough of Islington, just outside the boundary of the City of London for London Underground, Elizabeth line and National Rail services. The statio ...

Crossrail Crossrail is a completed railway project centred on London. It provides a high-frequency hybrid commuter rail and rapid transit system, akin to the Réseau Express Régional, RER in Paris and the S-Bahn systems of German-speaking countries, kn ...

interchange.

References

External links

* {{Authority control Real estate companies established in 1913 Real estate investment trusts of the United Kingdom Property companies based in London 1913 establishments in England Companies listed on the London Stock Exchange Companies in the FTSE 250 Index