IN BRIEF: Derwent London announces Network pre-let to Databricks

Derwent London PLC - London-headquartered property developer - Says it has pre-let all 136,300 square feet of offices at its Network W1 building to data and artificial intelligence-focused software company Databricks Inc. Annual rent is £14.1 million, and San Francisco-based Databricks has a 15-year lease with a break at the tenth year. Derwent says the market for office space in London is entering a period of very low new supply but that demand remains robust across sectors, driving a ‘strong rental growth outlook’.

‘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,’ comments Derwent Chief Executive Paul Williams. ‘This maintains our long and successful pre-letting track record. Momentum is strong across the business and since the start of 2026, we have now agreed lettings totalling £15.7 million of rent with lease renewals and regears adding a further £2.1 million. In addition, we have £4.3 million of transactions under offer.’

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