Sentinel attracts significant investor interest Lismore Real Estate Advisors (Lismore) is pleased to announce the successful sale of Sentinel, one of Glasgow’s most recognisable office buildings, in a significant investment transaction that underscores growing confidence in the city’s office investment market. Lismore advised Ardstone Capital investment managers on behalf of the Ardstone Regional Office Fund a joint venture with CBRE IM on the £19.60m sale to Clydebuilt II Limited Partnership (CLP II), a joint venture between Scottish property company Ediston and Strathclyde Pension Fund (SPF). Prominently located on the corner of Waterloo Street and Douglas Street, Sentinel is a Grade A landmark office building offering high-quality and flexible accommodation, extending to 84,095 sq ft over ground and 9 upper floors, together with 26 secure basement car parking spaces. The prime asset has undergone comprehensive refurbishment, with the most recent works completed in 2022. It now offers superior sustainability credentials, including an all-electric specification, EPC ‘A’ rating and WiredScore ‘Gold’ certification. Through this repositioning, Ardstone attracted a high calibre of occupiers including JLL, DWF, Chubb, Aggreko and Sedgewick International. Commenting on the sale, Simon Cusiter, Director of Lismore said: “The sale of Sentinel represents one of the most notable office investment transactions in Glasgow city centre this year, reinforcing investor appetite for prime, income-producing assets in Scotland’s largest city. Ardstone Capital repositioned the building, helping attract high quality tenants and providing a platform for future performance. The quality of the building was highlighted by the competitive nature of the sale process” Calum Bruce, Fund Manager of CLP II said: “Sentinel provides Clydebuilt with an attractive income stream which can be further improved through active asset management and the letting of the vacant floors. In a market with a limited supply of high-quality office accommodation, Sentinel is an attractive opportunity for tenants looking for new premises, with good interest already being shown by prospective occupiers.” Lismore Real Estate Advisors represented Ardstone Regional Office Fund. Building, Design & Construction Magazine | The Choice of Industry Professionals

Stanhope and Cheyne Capital have taken the reins of Row One, a landmark consented development on London’s South Bank previously owned by Landsec. The partners have acquired the 1.24-acre site between London Bridge and Southwark Bridge, close to Borough Market and Tate Modern, and will now steer delivery of a best-in-class office building with a gross development value of around £450m. With demolition already complete, enabling works will pave the way for the main contract to begin in early 2026, followed by an anticipated two-year build. The consented scheme comprises two basement levels and 11 storeys above ground, providing 235,000 sq ft of flexible Grade-A workspace supported by 15,000 sq ft of retail at ground level. Generous terraces and outdoor areas are planned to maximise the site’s riverside setting and create the kind of amenities increasingly sought by occupiers. Stanhope will act as development and asset manager, drawing on a London pipeline that currently includes 70 Gracechurch Street, One Undershaft, The British Library and 1 Victoria Street. The company’s investment head, Joe Binns, called Row One “a rare opportunity to acquire a significantly de-risked, best-in-class office development in one of London’s most vibrant sub-markets”. He highlighted the South Bank’s continuing evolution as a complementary business district to the City, and pointed to a tightening supply of Grade-A space towards the end of the decade as a key context for the acquisition. “There is an opportunity for high-conviction investors to play a crucial role in ensuring the capital retains its position as a pre-eminent global business hub,” he said, adding that the deal brings another blue-chip capital partner into Stanhope’s orbit. Cheyne Capital, an alternative investment fund manager with a growing presence in real estate, will provide funding alongside Stanhope and help to shape the project’s sustainability ambitions. Nick Grosse, director in Cheyne’s Real Estate Group, said the partnership would deliver “a best-in-class office building distinguished by exceptional ESG credentials, design quality and occupier amenities”. He noted that the scheme already benefits from planning consent and significant site preparation undertaken under Landsec’s stewardship. Occupier expectations are central to the brief. The design is set to prioritise daylight, access to outdoor space, and high-performance building systems that reduce operational carbon and enhance resilience. Excellent connectivity—by rail, Tube, riverboat and active travel—adds further weight to the location’s appeal, while the retail accommodation aims to knit the ground plane into the neighbourhood’s established food, culture and leisure offer. For London’s office market, Row One is another signal that capital is flowing into highly specified, well-located, consented schemes with clear delivery pathways. While secondary stock faces tougher headwinds, prime developments that can demonstrate environmental leadership, strong amenities and transport links are continuing to move forward. If Row One advances on its current timeline, the project will complete into a market that many expect to be short of new Grade-A floorspace—particularly in amenity-rich, mixed-use districts such as the South Bank. As the team progresses design, procurement and enabling works, attention will focus on locking in the building’s sustainability credentials and tenant experience, alongside the rhythm of a construction programme set to begin in 2026. For now, the change of ownership marks a fresh chapter for a prominent riverside site—and another statement of confidence in central London’s long-term office fundamentals. Building, Design & Construction Magazine | The Choice of Industry Professionals

CBRE’s Project Management and Office Agency teams retained on iconic Liverpool landmark Princes Group plc ( ‘Princes’) , the new owner of the historic Grade-1 Royal Liver Building, has retained real estate advisory firm CBRE on the iconic Liverpool landmark.  CBRE’s Property Management and Office Agency teams are both retained following the leading food and drink group’s purchase of the building for £60M, further cementing its commitment to its Liverpool roots. Both CBRE teams have played an integral role in breathing new life into the enduring symbol of Liverpool’s history since being appointed in 2012 with CBRE also advising on the original sale in February of 2017.  CBRE’s seamless work has supported the vision to create highly desirable premier space in the city, as well as the management of the ongoing refurbishment and transformation programme of the building. Princes’ investment in one of Liverpool’s most recognisable landmarks, forms a key part of a broader £83M real estate plan that also includes the Cross Green facility in Leeds (£23M), underlining the Group’s long-term commitment to the UK. Built in 1911, the Royal Liver Building has an unrivalled, prime position on the City’s waterfront overlooking the River Mersey. Andrew Willoughby, Director, CBRE’s Property Management team said: “We are delighted to continue our involvement in the management of the Royal Liver Building; the team has done a great job in positioning the building as the best in class customer experience, and we look forward to working with Princes in delivering the next phase of its journey.” Simon Harrison , Princes Chief Executive Officer said : “The Group plans to expand its presence within the Royal Liver Building, using it not only as a corporate HQ, but also as a multi-purpose venue for events, collaboration and public engagement.  Liverpool is important to our heritage, having been a tenant at the Royal Liver Building since 1982 with more than 400 colleagues based there.  The acquisition further reinforces our deep connection to the city and our dedication to create a stable and sustainable operating base for the future. We recognise the significance of this iconic asset and are honored to assume its custodianship. Partnering with CBRE, we are dedicated to preserving its unique character and maximizing its potential for future success.” Neil Kirkham, Senior Director, CBRE’s Office Agency team said; “It is an immense source of pride for our team to continue our long-standing relationship with a globally recognised and iconic landmark like the Royal Liver Building. Over the last seven years, we’ve had the privilege of supporting its transformation and success alongside Corestate, and we are excited to work with Princes to build upon this legacy and deliver the next chapter for this premier space in Liverpool.” Andy Byrne, Director, CBRE’s Office Agency team said: “We are excited to be working with Princes to build upon the existing success of this landmark building. We are planning a diverse selection of new spaces, presenting a unique opportunity for occupiers to establish a presence in a highly sought-after location. The next phase of spaces will range from 1,000 sq ft up to 21,000 sq ft, with flexible options to accommodate a variety of requirements.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Mace has been appointed to redevelop London’s former City Hall, which has stood empty since 2021, in a £150m scheme that will reconfigure the landmark building into office and retail space. The client, St Martins Property Investments (SMPL), acquired the wider More London development – which includes the distinctive riverside building – for a reported £1.7bn in 2013. Originally designed by Foster + Partners and completed in 2002, the structure was built by Mace under a construction management deal, with the late Queen officially opening it three years later. City Hall was vacated at the end of 2021 when the Greater London Authority relocated to The Crystal in Newham, a move intended to cut costs. Since then, SMPL explored options for a light refurbishment but determined that more significant work was needed due to design flaws, water ingress, outdated floorplates, and sustainability challenges. Under designs by Gensler, Mace will retain the building’s core but replace its complex glazed façade with a more energy-efficient system, while introducing planted terraces and reconfiguring the shape to create more usable internal space. The redevelopment will add around 3,800 square metres of floor space, including 452 square metres of new office accommodation and 3,300 square metres of retail. Southwark Council approved the plans in December, with planning officers acknowledging the scheme would alter the character of the iconic riverside structure but improve both its usability and sustainability. The project team includes Gensler as architect, LDA Design as landscape architect, Waterman as structural engineer, Ramboll as façade engineer, DP9 as planning consultant and Turley as heritage consultant. Mace’s appointment continues its run of high-profile wins, following the £700m British Library redevelopment and the £200m Edge Liverpool Street project. Building, Design & Construction Magazine | The Choice of Industry Professionals

Landsec has announced the unconditional sale of Queen Anne’s Mansions (QAM) in SW1 to the Arora Group, in a £245 million deal that crystallises significant value and strengthens the company’s capital recycling strategy. The office building, originally developed by Landsec in the 1970s, is currently fully let on a lease running until December 2028. While the asset continues to generate stable rental income, much of its current valuation is tied to its long-term redevelopment potential. The transaction represents substantial early progress towards Landsec’s target of releasing £2 billion of capital from office assets by 2030. The strategy is focused on repositioning the portfolio towards holdings that deliver sustainable income growth and improved returns over the long term. Completion of the sale is expected in early December 2025, following the receipt of a 10 per cent non-refundable deposit. The £245 million sales price is in line with the asset’s expected book value, adjusted for income receipts and depreciation since the last valuation date. The disposal is anticipated to reduce Landsec’s loan-to-value ratio by 1.3 percentage points, to 38.4 per cent. As the transaction was achieved earlier than planned, the finance lease income originally due to be received across 2025 and 2026 will instead be consolidated as a capital receipt in 2025. While this reallocation will reduce EPRA earnings in FY26 and FY27, overall cash generation remains unaffected, with proceeds available for reinvestment into accretive opportunities. Mark Allan, Chief Executive Officer of Landsec, commented: “This sale provides clear evidence of recovery within the central London investment market and enables us to crystallise full value for this off-strategy asset sooner than anticipated. Including QAM, total disposals since March stand at approximately £500 million, ahead of expectations and underpinned by strong operational performance across the wider business. This represents encouraging progress towards delivering our long-term strategy.” The deal also reinforces signs of renewed confidence in London’s office investment market, with institutional and private buyers seeking prime opportunities to capitalise on redevelopment potential and long-term rental growth. Building, Design & Construction Magazine | The Choice of Industry Professionals

CBRE completes 24,360 sq ft deal at Liverpool John Moores University Liverpool John Moores University (LJMU) has agreed a three-year deal on 24,360 sq ft of Grade A office space at City Square, which will become temporary accommodation for teaching staff and students during the major transformation of the University’s Henry Cotton Building. Global real estate advisor CBRE acted for LJMU on the deal, the largest to complete in the city this year.    The fourth-floor office accommodation, on Tithebarn Street in Liverpool’s core business district, will be remodelled over the summer to meet the University’s needs, providing high-quality teaching and student space from next month.  LJMU has taken the final available floor in the building. LJMU’s £12.5m project to redevelop the Henry Cotton Building starts in October this year, and is earmarked for completion by July 2027. The works will decarbonise the building, provide flexible, modern new facilities for students and staff and create a new look. It will support the University’s commitment to sustainability and its ambition to reach net zero carbon. The City Square building, which sits in a major artery with access to the city centre, is spread over six floors and provides occupiers with a wealth of on-site amenities and facilities, including private roof terrace, cycle storage, flexible layouts and more.  Alongside the City Square deal, CBRE also acted for LJMU in a deal to sell the Jo Makin drama building to the Liverpool Institute of Performing Arts (LIPA) for an undisclosed sum.  The 13,551 sq ft building on Hope Place in Liverpool was ancillary space. Andy Byrne, Director, CBRE’s Office Agency team in Liverpool said: “It has been a privilege to work with the team at LJMU to secure accommodation at City Square, a significant deal in terms of significance and scale. The additional sale of the Jo Makin building forms part of the ongoing, wider LJMU property strategy and is an excellent new home for the LIPA.” Mark Askem, Director of Estate Development at LJMU, said: “We are pleased to have secured space in City Square to provide high-quality temporary accommodation while we redevelop Henry Cotton Building. City Square is in an ideal location within our City Campus, making it easily accessible for our students, staff and visitors. Our contractors are currently remodelling our leased space in City Square to meet our specific requirements and enable us to deliver high quality teaching, learning and research from September 2025.” Building, Design & Construction Magazine | The Choice of Industry Professionals

Mace Construct has been appointed as the main contractor for one of the City of London’s most anticipated developments, a 30-storey tower set to rise at 85 Gracechurch Street beside the historic Leadenhall Market. Commissioned by Hertshten Properties, the Woods Bagot-designed scheme will deliver around 235,000 sq ft of prime office space, replacing a 1930s block within the Leadenhall conservation area. The tower is designed to achieve BREEAM Outstanding certification, with an all-electric energy strategy, advanced mechanical systems, natural ventilation, and a commitment to urban greening. The site itself is steeped in history. Excavations have uncovered substantial remains of London’s first Roman Basilica. These will be preserved and displayed in situ as a new visitor attraction, curated in partnership with the Museum of London. This heritage element has shaped both the planning process and the design of the new building. Mace has now entered the pre-construction services agreement phase, with completion scheduled for 2030. Ged Simmonds, managing director of Mace Construct, commented: “85 Gracechurch Street represents a rare opportunity to create a sustainable, forward-looking office development that remains sensitive to its historic surroundings. Our focus is on collaborating with Hertshten Properties and the project team to deliver a building that enhances the City and supports the needs of future occupiers.” Ron Hertshten, chief executive of Hertshten Properties UK, added: “This project will deliver a state-of-the-art office building with approximately 235,000 sq ft of premium workspace and exceptional amenities. Designed to set new standards in sustainability, it will be a benchmark development for the City of London. With Mace’s extensive experience in complex, high-profile projects, we are confident in their ability to bring our vision to life.” The tower at 85 Gracechurch Street is set to become a landmark addition to the City, blending cutting-edge sustainable design with London’s deep-rooted history. Building, Design & Construction Magazine | The Choice of Industry Professionals

The transformation of the former Filton Airfield into one of the South West’s most ambitious new communities has taken another step forward, with YTL winning approval for Brabazon’s first major office building. Construction on the eight-storey, 123,330 sq ft development is expected to begin before the close of 2025, marking the start of a commercial chapter for the emerging neighbourhood. Positioned beside the new Brabazon railway station, the building will serve as both a workplace hub and a gateway for passengers arriving into the development by train. The Brabazon masterplan, overseen by Malaysian-owned YTL Developments, is nothing if not expansive. It promises thousands of homes, student accommodation, and sweeping green spaces, all built across the historic airfield that once saw the Concorde take to the skies. The forthcoming office will be the first of its kind on the site, designed to appeal to businesses seeking premium space without the constraints of Bristol’s city centre. Sustainability is at the heart of the project. Designs by AHR Architects target an EPC A rating and BREEAM Outstanding certification, alongside NABERS 5* and WiredScore Platinum standards for energy efficiency and digital connectivity. The building will also house a ticket office for the adjacent rail station, integrating public transport access directly into its footprint. The rail link itself is a key part of Brabazon’s vision. Work began earlier this year, with completion set for 2026, promising a direct and sustainable connection into Bristol’s core. For companies considering relocation, the combination of modern office space and rail accessibility could prove decisive. Seb Loyn, planning and development director at YTL Developments, believes momentum is now firmly on Brabazon’s side. “We’re creating more than just new homes,” he said. “We’re establishing a place where people can live, work, and connect. This first office building gives Bristol’s businesses a genuine alternative — a sustainable, well-connected space to grow.” With Waitrose already confirmed as an anchor retail tenant and new community amenities under way, Brabazon is rapidly taking shape as a mixed-use destination. Hundreds of homes have been completed and are now occupied, and by 2026 the site will also boast student housing and a repurposed aircraft hangar serving as a community hub. For a city wrestling with a shortage of Grade A office space, the arrival of Brabazon’s first commercial building is timely. It signals not only YTL’s commitment to the project but also the evolving identity of the development — from a residential expansion into a full-scale urban district with a strong business presence. If the project maintains its current pace, Brabazon will soon offer Bristol a rare combination: the quality and amenities of a city-centre location, with the space and transport links of a purpose-built new town. For local businesses looking beyond the confines of central Bristol, that could prove an irresistible proposition. Building, Design & Construction Magazine | The Choice of Industry Professionals