LONDON (October 4, 2018) – LEVERTON announced today that Derwent London plc, the largest central London-focused REIT, has adopted LEVERTON’s AI-powered data extraction technology to streamline the process of managing its lease portfolio.
Derwent London plc owns and manages an investment portfolio of 5.5 million sq. ft. The multi-year agreement has Derwent London utilising LEVERTON’s data extraction software and services to accelerate the way in which the company accesses, interacts with and manages data across its entire portfolio.
LEVERTON’s award-winning technology automatically extracts and structures key data points from corporate and legal documentation, on average saving 60-70% of the time it takes for manual data abstraction.
Jennifer Whybrow, Head of Financial Planning & Analysis at Derwent London, said:
“We are pleased to be working with LEVERTON to speed up and improve the way we capture key commercial lease terms. We are always looking for ways to improve our business through innovation and leveraging the power of AI to achieve operational efficiencies fits with that ethos.”
Richard Belgrave, Chief Revenue Officer of LEVERTON, further added:
“We are thrilled to be working with Derwent London, a business that is continuing to pave the way in the industry by offering their customers the best services, while also working to find ways to improve their internal processes that add value to their team through the adoption of new technology that leads to better data management, and ultimately, smarter decisions.”
About Derwent London plc:
Derwent London plc owns 87 buildings in a commercial real estate portfolio predominantly in central London valued at £5.0 billion (including joint ventures) as at 30 Jun 2018, making it the largest London-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 development 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 the Tech Belt. 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.
Landmark schemes in our 5.5 million sq ft portfolio include White Collar Factory EC1, Angel Building EC1, The Buckley Building EC1, 1-2 Stephen Street W1, Horseferry House SW1 and Tea Building E1.
In 2018 to date the Group has won Property Week Property Company of the Year and EG Offices Company of the Year, whilst White Collar Factory scooped RIBA National and London awards, an RICS award, two BCO awards for Commercial Workplace and Innovation, an EG Creative Places award and an NLA Wellbeing award. 25 Savile Row also won RIBA National and London awards and SKA Gold for the fit-out. In 2017 the Group collected the Property Week Developer of the Year award and EG Offices Company of the Year and won further awards from RIBA, Civic Trust and BCO. In 2013 Derwent London launched a voluntary Community Fund and has to date supported 70 community projects in Fitzrovia and the Tech Belt.
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 Twitter at @derwentlondon