Development

Crosstree Partners with Simten to Fund £500m+ One Museum Street Project as BC Partners Exits

Crosstree Real Estate Partners has funded the One Museum Street scheme in London WC1 and will partner with developer Simten to complete it.
BC Partners Real Estate is understood to have exited. BC Partners appointed JLL in 2024 to find a joint-venture partner for the project.
The project is a 19-storey office tower of nearly 180,000 sq ft of Grade-A office and retail floorspace. It is part of a 220,000 sq ft masterplan with three additional blocks containing retail space and 44 homes. Practical completion is targeted for 2029.

Crosstree Real Estate Partners has stepped in to fund and partner with development manager Simten to deliver the landmark £500m+ One Museum Street project in Central London. The transaction marks the formal exit of private equity firm BC Partners Real Estate, which had been seeking an investment partner for the site since 2024 following the initial masterplan assembly and planning approvals. Located at the junction connecting Covent Garden, Holborn, and Bloomsbury, the high-profile mixed-use scheme received final planning consent to redevelop the vacant former Travelodge hotel (Selkirk House) and surrounding heritage assets. Construction and demolition phases are being progressed to align with a targeted practical completion date in 2029.

Stripe Nears 128,000 Sq Ft Headquarters Pre-Let at Blackstone’s Broadgate Quarter

* Stripe is close to signing a lease for about 128,000 sq ft at Blackstone’s Broadgate Quarter, on the edge of the City of London. The space is understood to cover the first and second floors and part of the third floor. * The space would be more than three

ING and DBS Provide £1.016bn Development Loan for One Spitalfields Redevelopment

* J.P. Morgan Asset Management has secured a £1.016bn development loan from ING Bank and DBS Bank to refurbish One Spitalfields at 1-10 Bishops Square, City of London. The two banks have underwritten the facility equally. DBS is global coordinator, and both banks are mandated lead arrangers, bookrunners

Landsec Exchanges on £211m Sale of 123 Victoria Street to SevenCapital Subsidiary

* 123 Victoria Street, London SW1 — a mixed-use office and retail building comprising 244,963 sq ft, featuring a prominent 170-metre retail frontage. * Exchanged for £211 million (~£861 psf) at a net initial yield of approximately 7.8%, following an initial asking price of £265 million. Land Securities Group

City of London Corporation Clears Major Hurdle as Government Backs City Plan 2040

* Housing Minister Matthew Pennycook has officially withdrawn the government's ministerial direction, accepting the Planning Inspectorate's recommendation to back the City of London Corporation’s spatial strategy. * Provision for at least 1.2 million sq m (approx. 12.9 million sq ft) of additional office pipeline concentrated

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Stripe Nears 128,000 Sq Ft Headquarters Pre-Let at Blackstone’s Broadgate Quarter

ING and DBS Provide £1.016bn Development Loan for One Spitalfields Redevelopment

Landsec Exchanges on £211m Sale of 123 Victoria Street to SevenCapital Subsidiary

City of London Corporation Clears Major Hurdle as Government Backs City Plan 2040