August 9, 2018 / 6:31 AM / 4 months ago

Derwent London raises 2018 rental value estimate on strong demand

Aug 9 (Reuters) - Derwent London raised its rental value estimate for 2018 on Thursday, as the central London office developer sees strong demand despite Brexit uncertainties plaguing the sector.

The company said it expects 2018 estimated rental value to range between growth of 2 percent to negative 1 percent, an improvement from its earlier forecast of up 2 percent to down 3 percent.

New lettings came in at 8.4 million pounds ($10.82 million) in the six months to June 30, 8.2 percent above its estimate in December, the company said.

$1 = 0.7763 pounds Reporting by Arathy S Nair in Bengaluru; Editing by Bernard Orr

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