Private Equity Firm Seeks Partner For £500M Tower That Will Be West End’s Tallest In 50 Years

A private equity firm that won a legal battle surrounding a London West End office and residential development is now looking for an investment partner for the £500M scheme. 

BC Partners has appointed JLL to find a capital partner for One Museum Street, a development comprising a 19-storey, 175K SF office tower and three other buildings. The development plans include 44 homes, 19 of them affordable. The 74-metre office tower will be the tallest to be built in the West End in more than 50 years.

The scheme will see the demolition of a vacant 17-storey former Travelodge near the British Museum and a new building erected. 

Camden Council granted approval for the project last November, but a campaign group launched a judicial review of the planning decision. The group argued it would affect conversation areas in Bloomsbury and Covent Garden as well as Grade I-listed buildings like the British Museum or St George’s Church, designed by Nicholas Hawksmoor. 

The High Court found in BC Partners’ favour earlier this month, kick-starting the search for a capital partner.

Demolition and enabling works of the existing building have begun. 

The scheme will target BREEAM Outstanding and NABERS five-star sustainability certifications. It is designed by architect DSDHA, and Simten is the development manager.

“The High Court decision last week has removed the final hurdle for us to proceed with confidence in the One Museum Street project, and we are excited to bring on board a joint venture partner to help us realise this vision,” BC Partners Real Estate partner Laurian Douin said in a statement. 

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