The City of London Corporation has approved proposals by Ben Cross and Basil Demeroutis, acting on behalf of IGIS Asset Management, for a redevelopment of No1 Poultry, the landmark Grade II* listed postmodern office building.
Landsec has appointed Savills, alongside investment bank Lazard, to sell the freehold of its one-acre island site at London’s famous Piccadilly Circus, including newly developed offices, shops and the land beneath the Piccadilly Lights – the neon London landmark with large-scale video billboards, the equivalent of New York City's Times Square – for a guide price of £450 million.
Convene Hospitality Group, the global hospitality platform focused on corporate conferences, meetings and events, has secured $230 million financing to fund global expansion across its multi-brand platform.
Great Portland Estates has reached practical completion at 2 Aldermanbury Square, EC2, its largest office development to date, ahead of the arrival of international law firm Clifford Chance.
Ringley Group, the operational real estate platform with more than £12 billion of assets under management, bolstered its senior team with the hire of Christian Anderton.
Fundamentals in London’s Southbank East submarket have strengthened materially since mid-2025, following a prolonged period of demand weakness. Leasing momentum has recovered, with BP’s recent preletting of 192,000 square feet at Timber Square - as revealed by CoStar News - boosting sentiment. Vacancy rates have begun to trend downward, and the market has shifted back into positive absorption after two consecutive years of net demand losses. Here are some of the key themes:
Unilever's 300,000-square-foot London campus reached practical completion last year and has duly been picked as the CoStar Impact Awards commercial development of the year in the capital by a panel of independent judges.
JPMorgan securing one of the largest off-plan office prelets in London in recent years to American financial services group Squarepoint Capital was the letting in the capital that had the most impact in 2025, according to the judging panel of real estate professionals, winning it a CoStar Impact Award.
Hayfin and Capreon’s acquisition of the 'Can of Ham' at 70 St Mary Axe for circa £335 million is a worthy winner of the CoStar Sale of the Year for London, particularly given such big ticket transactions have been in short supply.
Meadow Partners and LBS Properties have completed the acquisition of the long leasehold interest in 1 Wood Street, London, from KanAm for approximately £132 million.
Patrizia, the German investment manager in global real assets, has received approval from long-standing partner Far East Organization, Singapore’s largest private property developer, to complete the £50 million main build contract for the redevelopment of 108 Old Broad Street in the City of London.
ING has arranged an £105 million green loan to finance the development of Xylo, a Clerkenwell project that is set to become the UK’s largest all‑timber frame office building.
Stanhope, the development and asset manager, has awarded Mace Construct the contract for Red Lion Court, a proposed 250,000-square-foot office building with a gross development value of £450 million on London’s South Bank.
Qatari Diar Europe, a real estate arm of the Qatar Investment Authority, is set to get approval for revisions to the fifth and penultimate phase of its ultra-luxury Chelsea Barracks residential development in London.
PPHE Hotel Group, the international hospitality real estate group has secured a £136.45 million loan facility to fund the acquisition of Park Plaza London Waterloo.
