The RazorKnow Organisation

Derwent London, a real estate firm based in London with a lot of its business in tied into office rental, has recently shown improvements in its financial status despite the recession. The bank support that they have is quite good and it seems they will be able to get through these tough times with relative ease.

Moreover, approximately £400 million of their property is uncharged, which makes their financial status even more robust. Their debts have gone down, with the figure reported at the end of March 2009 standing at £830 million, which is £20 million less than what was predicted at the end of December 2008.

All this has been made possible by charging comparatively lower leasing rates and ensuring that they provide appropriate services to a variety of customers. This ensures that their assortment of offices to let London premises remains interesting, well planned, and affordable for their clients. They have been able to ensure that most of their places are let out so that they can keep earning revenue in spite of the demand and enquiries regarding office space dropping.

The office space of Derwent London, spread over 65,000 sq ft, has mostly been let out already, despite the real estate market in London being in a major slump. The company is also refurbishing three key buildings at the expense of over £82 million. These include 16-19 Gresse Street, Soho, the Arup Phase III in Fitzrovia, and the Angel Building in Islington. It is aiming to finish the project by Q1 2009.