£181 million / NIY - 4.00% / £1,656
Nuveen / BA Pension Fund
CBRE advised Nuveen Real Estate, on behalf of CLOF, and British Airways Pension Fund Trustees Limited on the disposal of this 109,000 sq ft striking headquarters building let to H&M and Twitch.
One New Oxford Street is a freehold London landmark office and retail development situated close to the new Crossrail (Elizabeth line) station at Tottenham Court. On behalf of the joint venture, Nuveen, carried out a major award-winning refurbishment and extension of the iconic Art Deco property, which completed in 2017. The building is also rated BREEAM ‘Excellent’.
The property was sold to Singaporean investor and developer, Sun Venture, constituting their first UK acquisition. The CBRE sales team identified the purchaser, a new entrant to the London market, via its capital markets colleagues based in Singapore.
The successful sale was the largest West End investment transaction during the first UK national lockdown and signalled London’s continued allure to global capital.