Derwent London has unveiled plans to launch a £50m share buyback programme
In a Q1 business update, the company said: “Underpinned by the strength of our balance sheet, together with recent disposals, continued operational momentum and disciplined capital allocation, we have identified capacity to return capital to shareholders without compromising our growth ambitions. As a result, we are announcing a £50m share buyback programme which we intend to commence on 18 May following our 2026 AGM on 15 May.”
In the first quarter of 2026, the business completed £25.3m of leasing activity – £20m of which was for new leases – with a further £6.7m of deals under offer. Derwent London completed £278m of disposals in the period and said it was “actively involved in further potential sales” totalling circa £120m.
The company also said its nominations committee was at an advanced stage of the CEO search process after current chief exec Paul Williams announced plans in January this year to retire after nearly four decades with the business.
Williams (pictured) said: “We have seen strong activity across the business driven by significant leasing, including the pre-letting of Network at rents well ahead of appraisal. Good progress has been made on disposals, with contracts exchanged on £278m of properties in line with our three-year target of £1bn and we are actively engaged in further sales.
“This has enabled us to commit to the redevelopment of 50 Baker Street as planned, where we are seeing very strong rental growth which will further enhance profitability and future earnings, as we continue to selectively invest where we see attractive risk-adjusted returns. Aligned with our disciplined approach to capital allocation, we are also announcing a £50m share buyback programme which we intend to commence on 18 May. Our near and medium-term earnings guidance is unchanged and we remain focused on driving income growth and returns.”
