The Deal Sheet is a weekly compilation of Greater London and beyond's biggest leases, sales, financing deals, construction updates and personnel moves. Have news you’d like to submit? Email mark.faithfull@bisnow.com.
Barratt London and Places for London have secured planning approval from Ealing London Borough Council for the next phase of their Bollo Lane site, which sits between Bollo Lane and the Piccadilly railway lines by Acton Town station.
It was the first development to be announced as part of their West London Partnership and will be delivered in four phases, providing up to 900 new homes. Each residential phase will deliver 50% affordable housing to rent or buy.
Construction works are due to begin this spring, with the first phase comprising 195 one-, two- and three-bedroom homes for private and affordable rent. The second phase will deliver 455 new homes for affordable and private sale over the next five years.
Courtesy of Barratt London
Barratt London and Places for London have secured planning approval for the next phase of their Bollo Lane site.
In addition to new homes, the project will create a new street frontage along Bollo Lane, providing extensive areas of new public realm alongside 20K SF of commercial and retail space.
“Our partnership at Bollo Lane will unlock nearly 900 new homes, and with half of these affordable, we are working in tandem with Places for London and Ealing London Borough Council to meet the housing needs in the borough,” Barratt West London Managing Director Craig Carson said in a statement.
DEALS
Packaged Living has acquired a co-living development in Woolwich with its development joint venture partner Buccleuch Property.
The asset consists of a mixed-use commercial property leased to retail and office occupiers, and the proposal is to provide a co-living development comprising 150 homes with a gross development value of £40M on Beresford Square, Woolwich.
This transaction represents the third deal undertaken between Packaged and Buccleuch and follows multifamily BTR developments in Basingstoke and Sheffield.
***
A private South African investor client of Pembrey Asset Management has acquired Stane Retail Park in Colchester from developer The Churchmanor Estates Company for £34M.
The property comprises a newly developed retail park, which opened in phases between October 2021 and October 2022, and the 124K SF scheme is anchored by an 80K SF Marks & Spencer that sits alongside a tenant lineup including Superdrug, Mountain Warehouse, Furniture Village, Greggs and Cook. The B&Q and Aldi are held in a separate freehold ownership and total 100K SF.
Investec Bank provided the senior loan to support the acquisition for the South African investor, and Pembrey Asset Management was represented by Cushman & Wakefield.
Vendor Churchmanor Estates was represented by XProp, with funding provided by Close Brothers.
FOR SALE
Two freehold London hotels have been put up for sale with a combined price of more than £110M.
Colliers is marketing the Park Grand Paddington Court and the Park Grand London Hyde Park for sale either individually or as a package. The hotels are near Paddington Station and have no brand or management ties.
The Park Grand Paddington Court is on the market for offers in excess of £70M and has 231 rooms, a restaurant, bar, gym and two guest lifts. The Park Grand London Hyde Park includes 119 rooms, a restaurant, bar and 12 car parking spaces. It is on the market for offers in excess of £40M.
LEASING
Public relations agency Brunswick Group has agreed on a 15-year prelet for 70K SF at Dorrington’s 15-23 Lincoln Inn Fields office scheme in Holborn, London.
Dorrington acquired the five interlinked buildings, which comprise circa 67K SF of office space, in June 2024. Three of the buildings are Grade II-listed, and parts date back to the mid-18th century.
FINANCE
Helical and Places for London have entered into a development financing arrangement with HSBC to provide £125M to fund the construction of 10 King William Street, an over-station development at Bank station.
Simultaneously, the joint venture has signed a building contract with McLaren, with construction work already underway and the building scheduled to be completed in December 2026.
The first of three initial sites in Helical’s joint venture with Places for London, the eight-storey office development will deliver 139K SF net internal area of office space, 7K SF of terracing, circa 2K SF of retail and occupier amenities, incorporating a wellness suite.
The building is targeting BREEAM Outstanding, NABERS five-star and WELL Platinum, and the four-year facility with a one-year extension will fund the remaining development costs.
PEOPLE
Legal & General Affordable Homes has hired Peter Cross as chief operating officer as it expands its delivery of affordable homes.
Cross joins LGAH with more than 20 years of operational experience in the real estate sector. Since 2021 he has worked in three businesses owned by investment firm Blackstone — Indurent REIT, St Modwen and IQ Student Accommodation — across the industrial, housebuilding and student accommodation sectors.
Prior to this, he worked at Global Student Accommodation, where he was responsible for global portfolio management, and as investment director at Liberty Living.
