Scheme on Tottenham Court Road close to completion

Derwent has said it has let all of its soon-to-be completed Network building on London’s Tottenham Court Road to a data and AI firm.

Kier is close to completing the scheme which at the time it won it 2022 was its first for the developer.

Since then, Kier has won a second scheme for Derwent, a £100m scheme to redevelop a grade II-listed building on London’s Oxford Street called Holden House.

Derwent said it had let the entire 136,300sq ft of offices at Network W1 to Databricks on a 15-year lease with a break at year 10. The annual rent is £14.1m.

Network Site 0725_PCO_Alex_Jackson_LOW-28

Source: Alex Jackson

Kier began work on the Network building in 2022

The building has been designed by Piercy & Company which has worked with Derwent before on its Turnmills and Copyright buildings.

Derwent chief executive Paul Williams said: “We are delighted to have pre-let all of the offices at Network W1 to Databricks shortly before completion at a rent which reflects the quality of the space we are delivering.”

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