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The Week's 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

Hammerson has submitted a planning application for the regeneration of the 759K SF Oracle shopping centre in Reading, including 449 rental apartments and 94K SF of reconfigured retail, entertainment and workspace.

Hammerson has submitted plans to redevelop part of The Oracle, Reading.

The development will offer a range of new homes to rent, for Reading’s rapidly growing population, set within new public realm and landscaping along the River Kennet. Flexible workspace, entertainment and leisure space including a new modern cinema will also be integrated.

Designed by architect CRTKL and delivered in partnership with build-to-rent developer Packaged Living, the new homes will include innovative technology to source energy locally from the River Kennet via water source heat pumps. 


Avanton has received planning approval for its Old Kent Road development, which will incorporate more than 40% affordable housing.

The new development will redevelop the site known as Ruby Triangle and is the first development to commit to delivering over 40% affordable housing in the Old Kent Road Opportunity Area, which has potential to create more than 20,000 new homes.

Avanton’s Old Kent Road development will create 1,152 new homes over five new buildings; a new community sports hall and fitness centre; new connections and open space including a public park, flexible commercial space including incubator workspace; studios for local entrepreneurs; and private residents’ amenities.


Chelsea Football Club has made a £50M offer to acquire land next to Stamford Bridge, south west London, that is needed to expand its stadium.

The offer for the 1.2 acres next to the stadium suggests that the club is ready to get its stadium expansion plan moving again. The land belongs to Housing Association Stoll, which provides 157 supported homes for armed services veterans.

The 15-acre site on which the new stadium would be built is bounded by London Underground’s District line to the north-west and the Southern mainline railway to the east. To increase the capacity of the stadium, decks would be built over the top of the lines to allow the footprint of the stadium to be increased.

Aecom is the strategic planner, with WSP and Schlaich Bergermann acting as structural engineers. Herzog & de Meuron is the architect.


Archer Hotel Capital has completed the sale of London’s The Dilly hotel to Fattal Group, owner of Leonardo Hotels UK & Ireland.

The Dilly is a 283-room hotel situated at 21 Piccadilly, constructed in 1908 as one of London’s most luxurious hotels. Known then as The Piccadilly Hotel, it is centrally located between Piccadilly and Regent Street.

Having acquired the hotel in 2011, Archer Hotel Capital took back vacant possession of the property and rebranded it as The Dilly, with the hotel relaunching in 2020.

Archer Hotel Group was jointly advised throughout the sale process by Cushman & Wakefield and Eastdil Secured.


Schroder European Real Estate Investment Trust has completed the early refinancing of the company’s largest debt expiry in 2023, a €14M loan with VR Bank Westerwald, secured against its Hamburg and Stuttgart office investments.

The refinancing is for 4.75 years and based on a margin of 0.85%, in line with the existing margin. The company has elected to extend the facility by a further €4M and the facility will be drawn on April 1, 2023, with expiry December 30, 2027.

The total interest cost has been fixed at the time of signing at 3.8% being the five-year euro swap rate (2.95%) plus 0.85% margin.

With this new facility, the company’s third-party debt totals €84.7M across seven loan facilities. This represents a loan to value of circa 30% against the company’s gross asset value, below the LTV prospectus limit of 35% net of cash. 


Bakery retailer Greggs saw sales surge by nearly a quarter over 2022 as it added around 150 shops to its growing retail empire, and it plans to do the same gain this year.

The company opened 186 new shops in 2022, when total sales rose 23% over the year to hit £1.51B, up from £1.23B the previous year.

Greggs now operates 2,328 shops and in its results highlighted the growing importance of plant-based foods to its produce range as well as its newly introduced Vegan Festive Baguette.

Plans to invest in existing locations, supply chain capacity and around 150 net new shop openings this year were underpinned by a cash position of £191M, it said.


Legal & General Investment Management has appointed Adam Burney as head of annuity for its build-to-rent platform.

Burney will be responsible for the Legal & General Retirement Institutional BTR mandate and he will help LGRI with the investment of circa £2.5B of long-term retirement funds.