* Smithson Plaza, St James’s, SW1, is on the market with a guide price of £200m. It reflects a NIY of 4.72% and £2,728 per sq ft. Colliers and Newmark are understood to be joint agents. The owner is Fidelidade, with Resolution involved on the ownership side. * Smithson
* Longmead Capital has launched the sale of 10 Old Bailey, a 74,261 sq ft City of London office building, through Fineman Ross + Partners and Savills. There is no guide price, but the price is understood to be in excess of £70m. The building is held on a long leasehold
* A 22,151 sq ft office building at 63 St James’s Street, in London’s St James’s district, has been brought to the market with a guide price of £61m, reflecting a net initial yield of 4.06% and approximately £2,754 per sq ft. * The multi-let
* The Wingate, 93-107 Shaftesbury Avenue, Soho, is on the market with a guide understood to be above £79m, reflecting a 6.5% net initial yield. JLL and RX are understood to be acting for the owners, BC Partners Real Estate and Seaforth Land * The building offers 73,522 sq
* Hayfin has acquired 280 Bishopsgate, a 13-storey Grade A office building in the City of London near Liverpool Street station, in partnership with Capreon. The price has not been disclosed, but market sources put it at around £320m. Hayfin led the transaction * The building is fully let. It was
* LaSalle Investment Management has completed the purchase of Sedley Place, 355-361 Oxford Street, London W1, from Norges Bank Investment Management (NBIM). The price is understood to be £85m, reflecting a net initial yield of 4.72%. LaSalle is acting on behalf of the California State Teachers’ Retirement System (CalSTRS)
* The Cha family, which controls Hong Kong developer HKRI, is understood to have acquired 13 Hanover Square, W1, from Lazari Investments. The price is understood to be £91m * The building has seven storey of office space, let to serviced office provider Halkin, with a Pret A Manger and Starbucks on
* Reef + Partners and BlackRock Real Estate have signed the non-profit London Initiative for Safe AI (LISA) for 82,000 sq ft at the Tribeca campus in King’s Cross. LISA will occupy six floors of The Reflector, the second building on the campus, which sits along Regent’s Canal.
* Gardiner & Theobald has signed for a 54,939 sq ft London headquarters at MEAG’s 30 Finsbury Square, covering 3.5 floors of the building. The space is on floors one to four. The lease starts in 2028 and occupancy is planned for the third quarter of 2029. * Originally
* 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
* 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
* 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
Investment
* 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
Policy
* 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
Leasing
* JP Morgan Asset Management has pre-let approximately 465,000 sq ft at its One Spitalfields development in the City of London to quantitative trading firm Jane Street * Jane Street will roughly double its existing London footprint, moving from its current premises at Devonshire Square once redevelopment completes, expected in
Investment
* Mirae Asset Global Investments has put 20 Old Bailey back on the market through Cushman & Wakefield at a guide price of £254,100,000, reflecting a 5.75% net initial yield * The Korean institutional investor bought the freehold from Blackstone in 2018 for £340m, following a comprehensive repositioning of
Investment
* CIT Group is bringing 12 Arthur Street, a 103,827 sq ft multi-let office building in the City of London, to market with CBRE instructed as sole selling agent, at a quoting price understood to be £124.5 million. * The pricing reflects a net initial yield of approximately 5.
Investment
* The freehold of Marylebone Place at 1 Wyndham Street has been returned to the market after a restructuring of the current lease. * Vendors are TPG Angelo Gordon and Beltane Asset Management; sole tenant is Union Bancaire Privée (UBP); joint marketing advisors are CBRE and Michael Elliott. * 74,833 sq ft
Investment
* Blacksand, the Bahrain-based investment firm, has acquired the freehold of 51 Eastcheap, EC3, a 89,459 sq ft City of London office building let entirely to WeWork, for approximately £70m * Seller was a joint venture between Polus Capital Management and Greycoat, which had themselves acquired the asset out of
Leasing
* Deutsche Bank has agreed a 15-year lease on approximately 150,000 sq ft across five floors (levels one to five) at YY London, 30 South Colonnade, Canary Wharf, with occupation expected from early 2028 * Building owners Oaktree Capital Management and Quadrant Estates were advised by Knight Frank and CBRE
Investment
* KKCG Real Estate Group, the property arm of Czech billionaire Karel Komárek's investment group, has completed the acquisition of the 1 St James's Square freehold in London's West End for £291m from Hong Kong-listed Lifestyle International Holdings * Sellers were advised by JLL and
Investment
* Asset & Location: 27 Savile Row, Mayfair, London W1S 2EX (former West End Central Police Station site earmarked for comprehensive office and mixed-use redevelopment). Agreed transaction value is approximately £100 million. * Key Parties: Purchaser: BNF Capital (family office of the Perrodo family) in partnership with Morgan Real Estate. Vendor:
Policy
The UK government has published an interim response updating the Minimum Energy Efficiency Standards (MEES) for non-domestic (commercial) private rented properties in England and Wales. The update shifts to a highly targeted approach that focuses heavily on larger properties while giving relief to small businesses. Here is a summary