Savills, JLL, DTRE, ACRE and Michael Elliott Among Big Winners in Investment Agency League Tables

There is no getting away from it, 2023 was a muted one for commercial real estate investment in the UK, and globally, thanks to a mix of rising interest rates and geopolitical turbulence.

Nevertheless, the agency world continued to piece together major transactions across the year, and in the fourth quarter where evidence of recovery was clear. And once again there was plenty to celebrate, perhaps more so during tougher times.

Savills took the top spot in CoStar’s annual national investment agency sales table with £4.22 billion for 2023.

Among a number of noteworthy deals, Savills advised Ediston Properties Investment Company on its sale of the EPIC Portfolio to Realty Income Corporation for £200.80 million. JLL was second placed, aided partly by the disposal of a part of Fen Court, 120 Fenchurch Street in London by Generali to Munich RE for £312.50 million. Eastdil Secured’s third place ranking was aided by its work for supermarket group Asda on the £650 million disposal of 25 Asda stores to Realty Income Corporation in a sale-and-leaseback deal.

Acquisitions wise, JLL took the top spot boosted by its work on the purchase of St Katharine Docks for City Developments from Blackstone for £395 million. CBRE ranks second aided by representing Blackstone in the 7 million-square-foot acquisition of the Trafford and Heywood Industrial Parks from Harbert Management Corporation and Canmoor Asset Management for £480 million. Savills takes third place supported by representing Chinachem Group in the acquisition of the office and retail building at 1 New Street Square in London for £349.50 million from Landsec.

When it comes to niche agents, DTRE leads the annual sales table boosted by the disposal of the Trafford and Heywood Distribution Parks for Harbert Management and Canmoor Asset Management to Blackstone  for £480 million. ACRE Capital Real Estate comes second, in part thanks to work on the disposal of the  Project Spears portfolio for BlackRock’s UK Property Fund to Mileway for £152 million. Newsteer ranks third aided by the disposal of Project Philadelphia’s 25 retail properties for Asda to Realty Income Corporation for £650 million.

Michael Elliott takes first place in the annual niche acquisitions table in part facilitated by its role in Lazari Investments’ acquisition of 53-63 New Bond Street, the soon-to-close Fenwick department store, and another building in London from Fenwick for £428 million.

TT&G Partners came in at second supported by representing UBS Asset Management in the acquisition of Bloom Clerkenwell, 48-50 Cowcross Street in London from HB Reavis UK for £230 million. DTRE comes in third boosted by its work on St Modwen’s purchase of the BGO and Equation industrial portfolio for £106.50 million.

Fourth-Quarter League Tables

Savills secures the top spot in the Q4 2023 national sales table, with a stand out deal its work representing HB Reavis in the sale of Bloom Clerkenwell in London to UBS Asset Management for £230 million. Eastdil Secured comes second, helped by representing Bruntwood Group and Legal & General in the £500 million recapitalisation of the Bruntwood SciTech portfolio to include Greater Manchester Pension Fund as its new equity partner. JLL ranks third, with a noteworthy one of its deals representing IPIF on the disposal of 10 assets known as the Artemis Portfolio to Eskmuir Group for £60.10 million.

JLL takes first place in the Q4 2023 national acquisitions table boosted by its work advising on the acquisition of 125 Shaftesbury Avenue in London’s West End by Edge UK Management and Mitsubishi Estate London for £148 million from Savills Investment Management and Vestas Investment Management, which were acting on behalf of Korean MG Community Credit Cooperatives and KB Securities, respectively. CBRE comes second while TT&G Partners places third aided by the acquisition of Bloom, 48-50 Cowcross Street in London on behalf of UBS Asset Management for £230 million from HB Reavis.

DTRE takes the lead in the niche branch sales table in the fourth quarter figures, advancing by representing BlackRock and Graftongate Developments in the sale of the Leicester Distribution Park to Aviva for £102.50 million. The second and third spot were closely contested with Michael Elliott easing ahead by £125,000 in part thanks to its disposal of Lazari’s Ferguson House, London to Grosvenor Power Services. RX London takes third spot helped by representing Nuveen on the 12-14 New Fetter Lane sale to clients of UBS Asset Management for £133 million.

TT&G Partners comes in first place in the niche branch acquisitions table boosted by representing UBS Asset Management in the acquisition of 48-50 Cowcross Street in London from HB Reavis for £230 million.

RX London grabs the second position in part thanks to its involvement with Lothbury Investment Management and Nomura Real Estate Holdings and its 50:50 joint venture with M&G Real Estate that agreed the forward funding of The Fitzrovia on 237-247 Tottenham Court Road in London for £180 million. ADS RE places third largely for Menomadin Group’s acquisition of One Angel Square in Manchester from Gingko Tree Investment for £140 million.

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