Derwent London plc - Offices Letting - London

Date: 13 Aug 2008

Derwent London plc ("Derwent" / the "Company") has let further office accommodation at the Davidson Building, 5 Southampton Street in Covent Garden WC2 to LECG.

LECG, an existing tenant at the building, has taken the entire second floor, comprising 6,410 sq ft (596 sq m), at a rent of £67.50 per sq ft (£680 per sq m), on a new lease, co-terminus with its existing premises which expire in March 2019. The global expert advisory firm already occupies 16,860 sq ft (1,566 sq m) on the third, fourth and firth floors and has acquired the extra space to accommodate its expanding business.

Derwent's Davidson Building was redeveloped by Lifschutz Davidson Sandilands Architects and completed in May 2003, winning two awards - 2003 IAS/OAS Property Week Award for best Central London Development and the 2004 RIBA Award for Commercial Building. Totalling 41,710 sq ft (3,875 sq m), it is arranged over six storeys; other tenants of the building include Sainsbury's and the British Computer Society and following this latest letting it is again fully occupied.

Simon Silver, Head of Development, Derwent London, comments: "Further to news of a pre-let at 151 Rosebery Avenue, this latest letting provides evidence that there is still a healthy appetite for Central London office space based in the mid-range rental market.

"Davidson Building typifies Derwent's portfolio and our talent for creating interesting working environments, set within niche urban areas of Central London. Like others, this area of Covent Garden has responded well to recent injections of regeneration and investment, and is part of the major reshaping of London's traditional office market dynamics."

Jones Lang LaSalle and Pilcher Hershman acted on behalf of Derwent London and LECG was represented by Cushman & Wakefield.

The second floor, Davidson Building