Royal London Asset Management Property has completed the sale of 149-151 Oxford Street to a private investor for £63 million as the company continues to optimise its exposure across the Central London retail sector, focusing on super prime, mixed-use assets.
The 32,795 sq ft mixed-use property spans retail, office and residential accommodation across two addresses, 149-151 Oxford Street and 59 Berwick Street. Circa 19,000 sq ft is dedicated to retail, arranged over the basement, ground and first floors fronting Oxford Street.
As long-term investors in Prime Central London retail and mixed-use assets, Royal London Asset Management Property’s sale of this asset allows capital to be redeployed into developing and acquiring super prime, best-in-class assets, including the 1.3-acre Mayfair Quarter development on New Bond Street – the next phase of which the investor received planning approval for in February 2025.
The sale of 149-151 Oxford Street aligns with Royal London Asset Management Property’s strategy to focus on super prime, modern, high-quality retail assets in central and/or strategic locations with strong growth potential. This transaction marks a strategic reinforcement in the investor’s commitment to delivering sustained long-term value for its investors from mixed-use assets.
The asset benefits from the Mayor of London’s plans to transform Oxford Street, with pedestrianisation and ambitious regeneration expected to attract international investment and reinforce the area’s long-term appeal.
Beyond Central London, retail forms an important component of Royal London Asset Management Property’s portfolio, exemplified by the investor’s 50% acquisition of the Centre:mk shopping centre in Milton Keynes in 2024.
Moira Hamilton, senior asset manager at Royal London Asset Management Property, said: “This sale provides a clear example of our commitment to actively manage our portfolio in line with our long-term vision and the overall performance of our portfolio.
The asset has performed well to date, and its sale allows us to reinvest the capital into opportunities that better align with our strategy of owning best-in-class next-generation retail assets with strong office components, in the UK’s most compelling locations.
As long-term owners of other properties in the area, we look forward to seeing the purchaser’s plans for bringing new footfall to this iconic destination.”
Graham Harding, associate, London Capital Markets at Cushman & Wakefield, said: “This acquisition represents a rare opportunity to reposition a modern mixed-use asset in one of London’s most dynamic submarkets. With its prominent retail frontage, proximity to major transport infrastructure, and potential for high-quality use, the site is exceptionally well-placed to benefit from the ongoing regeneration of Oxford Street East. We look forward to supporting our client through the next phase of this exciting transformation.”
Royal London Asset Management Property was represented by Savills and Colliers, while Cushman & Wakefield represented the buyer.
