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Derwent London’s proposals failed to comply with the council’s policies, according to reports. The development control committee voted to reject the plans by eight votes to three.
The rejected plans included plans to knock down The Pregnant Man pub and add 15,000 more square feet of office space to the existing 40,000 square feet.
Additionally, the plans called for retail and restaurant space and expanding the building to nine floors.
Though Camden’s planning officers recommended that the plans be approved, some criticised them as not including enough public space and not providing enough affordable housing.
Fitzrovia News quoted Councillor Flick Rea’s criticism of the proposed pocket park: “The open space is not enough for the office workers, let alone the surrounding residential community.”
And Councillor Matthew Sanders said Derwent “have failed to meet any of our policies”.
Holborn and St Pancras MP Fred Holborn also came out against the development, calling the plans a “grotesque overdevelopment”.
And many neighbours and residents of the area also wrote furious letters to the council when the plans were submitted.
It is believed that Derwent London may appeal the decision, though nothing has been forthcoming as yet.
In 2009, Derwent London’s plans to knock down Farringdon’s famous Turnmill building were rejected by the London Borough of Islington after a campaign to save the building by local people
Recently, Derwent won a British Council of Offices award for its Angel Building in the Refurbished/Recycled Workspace 2011 category.
Derwent London currently has an operating income of £394.7 million and revenue of £121.1 million. As of December 31st last year, the company’s portfolio was measured at £2.4 billion.
Editor’s notes: In September 2011, Derwent London was granted planning permission for the scheme, and the redevelopment of 80 Charlotte Street was completed in 2020.
The mixed-use scheme was completed in June 2020, and the 377,000-square-foot scheme comprised 326,000 square feet of offices, 43,000 square feet of residential (of which 10,000 square feet was affordable housing), retail units, a new public realm park, and a community hub for Derwent London occupiers in London DL/78.
In 2017, Saatchi & Saatchi vacated 80 Charlotte Street after four decades and moved into another one of Derwent London’s properties – 40 Chancery Lane.
As of 31st December 2022, Derwent London owned a portfolio of 5.5 million square feet of commercial real estate, predominantly in central London, which was valued at £5.4 billion. This made it the largest London office-focused real estate investment trust (REIT).
It posted revenues of £248.8 million in 2022 and secured commercial property lettings worth £9.8 million across 163,000 square feet, representing a 13.0 per cent increase compared to the previous year.
In May 2024, it was announced that Derwent London had sold its 70,300-square-foot office building, The Turnmill in Clerkenwell, to Titan Investors for £77.35 million.
The London-based property developer and investor advised that the proceeds were earmarked for 2 new major schemes – 25 Baker Street W1 and Network W1.
At the time, these projects were already on site and would collectively deliver 437,000 square feet. Both developments were aiming for net-zero carbon emissions.
It was reported in January 2025 that the 25 Baker Street scheme was fully pre-let to five tenants.
In March 2026, it was reported that Derwent London had pre-let all 136,300 square feet of offices at its Network scheme to data and AI company Databricks on a 15-year lease with a break option at year 10 at an initial annual rent of £14.1 million.
The Network scheme in Fitzrovia had achieved a Platinum SmartScore certification and was targeting BREEAM ‘Outstanding’, LEED Gold, EPC ‘A’ and NABERS 4.5 Star ratings on completion.
The scheme incorporates communal and private terraces and flexible office floor plates with openable windows, plus 259 cycle spaces, 27 showers, 180 lockers and a dedicated drying room.