Landsec Set For £200M Silverburn Buy: The London Deal Sheet

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.

Landsec is under offer to acquire the 1M SF Silverburn shopping centre in Glasgow from current owners Henderson Park and Eurofund for around £200M.

The owners had previously sought to sell a 50% passive stake in the scheme for £100M after acquiring the centre from Hammerson and Canada Pension Plan Investment Board for £140M in December 2021. During their three-year joint venture, Henderson Park and Eurofund have completed more than 60 leasing deals.

Redical had also been linked with a bid for Silverburn but did not make an offer, and the company is in talks to acquire Birmingham’s Merry Hill shopping centre for circa £250M.

Landsec has not commented on the reports but has been targeting major destination shopping centres in recent years.

DEALS

LondonMetric Property has acquired nine Premier Inn hotels for £89M, reflecting a net initial yield of 5.3%, which will compound over the long lease term. The sale and leaseback portfolio is let on new 30-year leases and has been acquired from Whitbread, generating £5M of annual rent.

The mature and purpose-built hotels, totalling 955 bedrooms, are south east-focused and located at Southampton Airport, Kings Langley, Milton Keynes, Poole, Colchester, Fareham, Waltham Abbey, Chipping Norton and Warwick. 

Through its Premier Inn brand, Whitbread is now LondonMetric’s fourth-largest occupier, contributing £11.3M of annual rent and accounting for 2.7% of the company’s total rent.

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Astra Asset Management has completed the acquisition of 7 Savoy Court from USS, marking its second investment under its private assets strategy.

Located adjacent to the Savoy Hotel, 7 Savoy Court is an eight-storey, Grade A office building. Following its inaugural acquisition in Q1 2025, Astra said it is actively sourcing further opportunities as it scales its private assets portfolio.

Astra was advised by Knight Frank, and USS was advised by JLL.

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Firethorn has acquired a 17-acre site situated on the A41 in Aylesbury, Buckinghamshire from Taylor Wimpey with plans to deliver a new mid-box logistics development.

The land forms the employment element of Taylor Wimpey’s residential-led development at Hampden Fields and has outline consent for up to 314K SF of employment use.

Firethorn plans to invest £50M in the development, with speculative development anticipated to commence in mid-2027. The deal follows its recent purchase of a 10-acre site in Maidenhead.

FUNDING

Maslow Capital has provided a £294M facility to Criterion Capital for its acquisition of the 732-bed St Giles Hotel and Criterion’s preexisting freehold interest in the island site, alongside the refinancing of Haymarket House with a bespoke construction facility to deliver a 508-bed Zedwell hotel.

BBS Capital acted as exclusive adviser to Asif Aziz and Criterion Capital in a deal structured by Maslow Capital’s lending solutions division.

“The facility supports standing assets while providing flexibility as transformational work progresses,” Maslow Capital Head of Lending Solutions Adam Baghdadi said in a statement.

LEASING

The Crown Estate has unveiled redevelopment details for One Hanover Street, within the Regent Street Partnership, to redevelop 124K SF of office space above the Apple store on Regent Street with six levels of new floorspace, including a new rooftop pavilion and seventh-floor terrace.

The Crown Estate has pre-let the entire office space to Ares Management, an existing customer currently occupying 39K SF within 10 New Burlington Street. The pre-let is part of a broader long-term vision to “curate a vibrant and resilient destination in the heart of London," the company said.

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BDP has agreed a lease over the whole of Global Holdings Management Group’s Barge Crescent on London’s South Bank.

The letting for 35K SF of office space follows Global Holdings Management Group’s redevelopment of the 1990s three-storey office building, which retained and reused all of the substructure to reduce embodied carbon.

The all-electric Barge Crescent meets EPC A, BREEAM Excellent and WiredScore requirements and incorporates intelligent mixed-mode ventilation and lighting controls.

DEVELOPMENT

HBD, Henry Boot’s property investment and development arm, in partnership with St John’s College Cambridge, has secured an outline planning consent for Freeport 36, an industrial and logistics scheme in the north east. The first phase will deliver circa £130M gross development value, HBD said.

The consent allows for the creation of a 5.5M SF industrial and manufacturing park, with buildings ranging from 40K SF to over 1M SF, on a 300-acre site located adjacent to Junction 36 of the M62 with access to Goole Docks and the M18.

The site forms part of the Humber Freeport Goole tax site, which has been officially designated following review and approval by the Treasury and HM Revenue & Customs.

PEOPLE

Cain has appointed Arvi Luoma as chief investment officer and Joe Stelzer as chief risk officer. Both will serve on the firm’s global investment committee as the firm aims to double assets under management over the next five years.

Working alongside Cain co-founder and CEO Jonathan Goldstein, Luoma will help shape the firm’s global investment strategy, oversee capital allocation and guide portfolio development.

He joined Cain following its 2024 merger with Blackbrook Capital, the specialist real estate investment manager he co-founded and led as CEO.

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Vastint UK has appointed Penny Cameron as its new managing director. She joins after almost three years as head of development for Unibail-Rodamco-Westfield, responsible for its mixed-use development pipeline across the UK.

Cameron brings over 30 years’ experience in delivering high-profile mixed-use regeneration and residential schemes, including Television Centre at White City, Coppermaker Square in Stratford and One Bishopsgate Plaza in the City of London.

She will lead the company’s nationwide development strategy across its regeneration projects, which include Sugar House Island in East London, Aire Park in Leeds and Embankment in Cardiff, as well as its recently completed New Fountainbridge BTR scheme in Edinburgh.

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Sentinel Real Estate announced that Ben Sanderson has joined the firm as managing director and will lead the firm’s entry into the UK living sector. Based in Sentinel’s new London office, Sanderson will oversee the establishment of Sentinel’s investment platform in the UK.

Sanderson has over 25 years of global real estate experience, particularly in residential investment across the UK, Europe, U.S. and Australia. Most recently, he served as managing director at Aviva Investors.