Business
Westminster ratifies plans for 1 Page street
Westminster ratifies plans for 1 Page street.
About this update from Derwent London Plc
[{"type":"text","content":"\n \nRNS Number : 7552B Derwent London PLC 20 April 2012 \n \n\n \n20 April 2012\n \nDerwent London plc (\"Derwent London\" / \"the Group\")\n \nWESTMINSTER CITY COUNCIL RATIFIES DERWENT LONDON'S PLANS FOR 1 PAGE STREET IN VICTORIA\n \n \nDerwent London is pleased to announce that Westminster City Council has ratified the amendment to the existing planning consent for the refurbishment and extension of 1 Page Street SW1. The Group announced in February 2012 that it had pre-let the entire proposed 127,000 sq ft (11,800m2) building to Burberry, the iconic British luxury fashion brand subject to receiving this amendment. \n \nThe scheme will increase the floor area by 8% whilst the existing glazed exterior will be replaced with an elegant masonry façade. Completion is estimated for mid 2013 and capital expenditure to complete the refurbishment is forecast at £30m.\n \nBurberry has an established presence in the area with its global headquarters located at Horseferry House, owned by Derwent London, immediately opposite Page Street.\n \n \n \nFor further information please contact:\n \nDerwent London 020 7659 3000\n \nJohn Burns, Chief Executive Officer\n \nLouise Rich, Head of Investor Relations \n \n \nBrunswick Group\n \nElizabeth Adams 020 7404 5959\n \n \n \n \nNotes to editors\n \nDerwent London plc\n \nDerwent London plc is the largest central London focused REIT with an investment portfolio of £2.6bn as at 31 December 2011. The Group is one of London's most innovative office specialist property regenerators and investors and is well known for its design-led philosophy and creative management approach to development.\n \nDerwent London's core strategy is to acquire and own a portfolio of central London property that has reversionary rents and significant opportunities to enhance and extract value through refurbishment, ...