UPDATE 1-Derwent London let 80,100 sq ft in Q1

* Q1 lettings to generate 3.2 mln stg in income

* Another 68,000 sq ft let or under offer since March 31

* Q1 property sales total 33.4 mln stg

(Adds details)

LONDON, May 15 (Reuters) - Property developer Derwent London (DLN.L) said on Friday it let 80,100 square feet of real estate in the first-quarter, from 20,500 sq ft a year earlier, generating annual income of 3.2 million pounds ($4.84 million).

In an interim management statement, Derwent said since March 31 a further 68,000 sq ft of floor space had been let or placed under offer, against 36,800 sq ft a year earlier, equating to future rent of about 1.6 million pounds a year.

The central London property developer and investor sold 33.4 million pounds of property in the quarter at values that were in line with their year-end valuations.

Derwent said its financial position remained sound, and its focus, given the challenging operating conditions, was on income retention, minimising voids and careful capital management. ($1=.6611 Pound) (Reporting by Andrew Macdonald; Editing by John Stonestreet and Simon Jessop)