Derwent London Regulatory News (DLN)

Derwent London today announces that Paul Williams has informed the Board of his intention to retire as Chief Executive and Director of the Company.

Paul will remain in his role until his successor is in place at which point he will step down from the Board.

Paul's career at Derwent began shortly after the Company was founded in 1984. He was appointed as an Executive Director in 1998, with responsibility for leasing, asset management and development, and subsequently became Chief Executive in 2019.

A thorough process to appoint a successor, led by the Chairman Mark Breuer, will commence immediately.

Mark Breuer, Chairman, commented: 

"I would like to thank Paul for his dedication and commitment over the last 38 years. During his distinguished career, including his tenure as Chief Executive, he has made an outstanding contribution to Derwent London. With its market leading position, ongoing commitment to capital recycling and significant development pipeline, Derwent London is well placed to create significant value for shareholders."

Paul Williams, Chief Executive, said:

"It has been a huge privilege to have been part of the Derwent story and to have had the opportunity to lead the business over the last six years. I am very proud of what we have achieved, positioning the business with world class assets in prime locations across London, attracting sustained and strong occupational demand. I would like to thank my fellow directors and all the team for their continued hard work and support. I remain fully focused on driving the performance of the business until my successor is in place."

Information equivalent to that required under section 430(2B) of the UK Companies Act 2006 will be made available on the Company's website at the time Paul Williams steps down from the Board and in the Company's 2025 Directors' Remuneration Report.

For further information, please contact:

Derwent London plc

Derwent London plc owns a commercial real estate portfolio predominantly in central London valued at £5.2 billion as at 30 June 2025, making it the largest London office-focused real estate investment trust (REIT).

Our experienced team has a long track record of creating value throughout the property cycle by regenerating our buildings via redevelopment or refurbishment, effective asset management and capital recycling. We typically acquire central London properties off-market with low capital values and modest rents in improving locations, most of which are either in the West End or City Borders. We capitalise on the unique qualities of each of our properties - taking a fresh approach to the regeneration of every building with a focus on anticipating tenant requirements and an emphasis on design. Reflecting and supporting our long-term success, the business has a strong balance sheet with modest leverage, a robust income stream and flexible financing.

We are frequently recognised in industry awards for the quality, design and innovation of our projects. Landmark buildings in our 5.3 million sq ft portfolio include 25 Baker Street W1, 1 Soho Place W1, 80 Charlotte Street W1, Brunel Building W2, White Collar Factory EC1, Angel Building EC1 and Tea Building E1.

As part of our commitment to lead the industry in mitigating climate change, Derwent London has committed to becoming a net zero carbon business by 2030, publishing its pathway to achieving this goal in 2020. Our science-based carbon targets have been validated by the Science Based Targets initiative (SBTi). In 2013, we launched a voluntary Community Fund which to date has supported 180 community projects in central London.

The Company is a public limited company, which is listed on the London Stock Exchange and incorporated and domiciled in the UK. The address of its registered office is 25 Savile Row, London, W1S 2ER.

For further information see www.derwentlondon.com or follow us on LinkedIn.