Royal London Asset Management Property sells 149-151 Oxford Street for £63 million
Royal London Asset Management Property has sold 149-151 Oxford Street in London to a private investor for £63 million, part of an ongoing effort to refine its central London retail holdings around super prime, mixed-use assets.
The building extends to 32,795 sq ft and combines retail, office and residential space across two addresses, 149-151 Oxford Street and 59 Berwick Street. Around 19,000 sq ft is retail, spread across the basement, ground and first floors facing Oxford Street.
The proceeds will be recycled into developing and buying best-in-class assets, including the 1.3-acre Mayfair Quarter scheme on New Bond Street, where the next phase gained planning approval in February 2025. The investor says the disposal fits its strategy of owning modern, high-quality retail assets with strong office elements in central or strategic locations. Outside central London, its retail exposure includes a 50% stake in the Centre:mk shopping centre in Milton Keynes, acquired in 2024.
The property is expected to benefit from the Mayor of London's plans for Oxford Street, including pedestrianisation and wider regeneration intended to draw international investment.
Moira Hamilton, Senior Asset Manager at Royal London Asset Management Property, said the asset had performed well and that selling it allows capital to be reinvested in opportunities more closely aligned with the firm's long-term vision. Graham Harding of Cushman & Wakefield described the purchase as a rare chance to reposition a modern mixed-use building that is well placed to benefit from the regeneration of Oxford Street East.
Savills and Colliers acted for Royal London Asset Management Property, and Cushman & Wakefield advised the buyer.
