US private investment firm Starwood Capital has withdrawn St Christopher's Place, the mixed-use estate just off Oxford Street in London's West End that it has been seeking to sell at a guide price of £275 million, CoStar News understands.
Savills and Eastdil Secured were appointed to bring the trophy estate to market last year. It is understood the sale has been withdrawn as Starwood focuses on asset management and awaits an improved real estate investment market.
The 1.5 acre estate includes retail, restaurants, offices and residential. Located next to Bond Street station, the estate is bookended by Marylebone to the north and Oxford Street to the south. The latter is set to undergo substantial public realm improvements and pedestrianisation.
The sale was marketed as offering potential buyers significant business plan options and asset management potential to drive rental income.
Tenants at St Christopher's Place include Pandora, Reiss, Rituals and Whistles.
The estate is the jewel in the crown of the portfolio the US investment giant bought in 2024 via its £673.5 million takeover of the Balanced Commercial Property Trust, the listed UK real estate investor.
In June that year, Balanced Commercial Property Trust, which had been managed by Columbia Threadneedle, said it had received interest from a number of credible parties while it was also considering a managed wind-down. The trust had a portfolio valued at £1.01 billion with assets across the country and in a mix of sectors including retail, industrial and offices.
The next largest asset was the Sears Retail Park in Solihull, valued at between £50 million and £70 million.
In June last year, Bank of America launched a £281 million commercial real estate backed securitisation collateralised by a £400 million portfolio of principally industrial portfolios in England owned by Starwood Capital. The properties were mostly previously owned by the BCPT, but did not include St Christopher's Place.
Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure and oil and gas. Since its inception in 1991, Starwood Capital Group has raised over $75 billion of equity capital, and currently has more than $115 billion of assets under management.