Our Real Estate team has advised Royal London Asset Management Property on its acquisition of 1 Newman Street, a prime office development in London’s Fitzrovia, from Great Portland Estates for approximately £250 million.

Located directly opposite the entrance to the Elizabeth Line’s Dean Street exit at Tottenham Court Road, 1 Newman Street comprises six floors of best-in-class office space, including a spacious communal roof terrace and above ground floor retail space. The building offers 81,000 sq ft of sustainable workspace and is recognised for its exceptional design and connectivity in one of London’s most vibrant districts.

The transaction marks a significant investment for Royal London Asset Management Property, eclipsing its £180 million purchase of Atlantic House in Holborn, which was one of the largest office deals in the capital last year. The acquisition of 1 Newman Street further strengthens Royal London Asset Management Property's leading position in the London office market and demonstrates continued confidence in the city’s commercial real estate sector.

The Gowling WLG team was led by Partner Felicity Lindsay, with support from Partners Paul Green and Lee Nuttall, and Principal Associates Angela Perry, Rita Vartoukian and Clare Simmons.

Felicity Lindsay, Partner at Gowling WLG, commented: “This transaction underlines Royal London Asset Management Property's commitment to investing in high-quality, sustainable office assets in London. 1 Newman Street is a standout development, offering exceptional workspace and amenities in a prime location. We are delighted to have supported on this acquisition and to continue our longstanding relationship with Royal London Asset Management Property.”

Gowling WLG is home to one of the UK’s largest real estate practices. To learn more about our expertise and services, visit our Real Estate sector page.