JLL transacts on largest single asset deal in Central London for five years

Challenge

In collaboration with LaSalle Investment Management, to source and deliver on significant Central London real estate transactions on behalf of a separate account investor.

We worked together and in collaboration with LaSalle Investment Management in providing extensive pre-acquisition due diligence all the way through to the successful closing of the transaction as the largest single asset transaction in the City of London for the last five years.

Our client was focused on acquiring a best in-class Central London office building of scale, that benefits from long-dated, secure income with strong return prospects. With limited readily available stock, 5 Broadgate became a key target, offering all the hallmarks they were actively seeking with a rare indexed-linked income stream.

Solution

Coordinating a global JLL team to assist in pre-acquisition due diligence, providing direct access into the vendor to facilitate extensive negotiations, utilising relationships in the Hong Kong capital markets team. The one JLL team included expert investment and asset management advice from LaSalle Investment Management, alongside the JLL acquisition team made-up of capital markets, leasing, tenant representation, building consultancy, specialist ESG advisory and research, pulling together to deliver as one JLL and meet the clients demands to reach a successful outcome.

Result

JLL’s skill set at providing data led market intelligence backed by strong corporate occupier relationships and knowledge of the future of real estate contributed towards the successful closing of the deal. The transaction took around nine months from introduction through to closing and was one of the largest single-let investments to ever trade in the UK property market.