Acquisitions & Disposals | 2020-2022
Legal & General and Newmark Newsletter
Welcome to the first edition of our Legal & General x Newmark Newsletter.
Over the years we’ve had the privilege of working alongside Legal & General on a series of significant deals and strategic mandates, and this newsletter highlights the progress we’ve made together.
Inside, you’ll find a brief update on what’s new at Newmark, a snapshot of the key transactions we’ve supported across your portfolios, along with an introduction to your dedicated Newmark team led by Richard Lines and supported by specialists across our Capital Markets, Leasing, Valuation & Advisory, and Consultancy teams.
Our relationship has grown from individual transactions into a more integrated, insight‑driven advisory partnership. We are committed to being a proactive, trusted extension of your team as the market evolves.
The below diagram highlights the services Newmark currently provides to L&G in the UK. We’d welcome your feedback on our service delivery and how we can continue strengthening the value we deliver to L&G, including introductions to other Newmark teams that can support your strategy. We’d also welcome your thoughts on the content and format of this newsletter so please get in touch with Richard Lines as your first point of contact for all relationship and client services queries.
We look forward to building on what we’ve achieved together.
What’s New at Newmark?
Our Living offering is going from strength to strength
- The Residential team had a successful 2025 transacting 1,215 new or consented homes across ten transactions, with a total value of £400 million. Transactions include four market-leading single-family deals in the Southeast: Cambridge, Didcot, Horsham and Welwyn (ongoing), creating 603 new homes. This is alongside major multifamily schemes in Watford and Earlsfield.
- Later this year Guy Stebbings and Lloyd Wraith will join Newmark from Knight Frank into our Residential Capital Markets team alongside Bobby Barnett and Charles Boyes. Lloyd and Guy are well known to your team and look forward to meeting up when they have joined.
- In November 2025 Newmark added Andrew Wheldon to its European Finance team. Wheldon is one of the UK’s foremost living sector debt advisors with two decades of experience spanning capital advisory, real estate banking, development and asset management, he has played a pivotal role in shaping the UK living market.
- Key Contact: Bobby Barnett, Partner – Living Capital Markets
To discover our full range of solutions, news and insights, please visit nmrk.com/en-gb
Comprehensive Hotel Services to help guide you
- The Hotels and Extended Stay team, led by Will Kirkpatrick, has expanded its scale and range of services. Ian Elliott and Agata Janta join the Valuation and Advisory team whilst Cherise Smith specialises in Hotel and Resort Consultancy. These appointments strengthen Newmark’s ability to delivery integrated consultancy, valuations and strategic advice across the full hotel lifecycle amid growing demand for specialist, end-to-end expertise.
- The full range of services includes valuation and advisory, business rates, acquisition and underwriting, disposal, planning and development, property and asset management, project management, research and lease consultancy.
- In the past year we have advised on over £20bn in value across single asset to portfolio transactions and valuation, including the County Hall Oxford transaction for LGIM. Looking forward we are seeing an increase investor appetite through long income and operational assets in a range of locations.
- Key Contact: Neil Hamilton, Partner – Hotel Valuation & Transactions
Andrew Wheldon
Managing Director – European Debt, Equity & Structure Finance
Driving thought leadership in Industrial & Logistics
- Our industrial and logistics team is one of the largest nationwide, providing a full-service offer that is highly valued by leading investors, developers and occupiers. On top of this, what sets Newmark apart is our market insight and expertise that enables us to take a genuinely innovative approach to the full spectrum of issues clients face in this sector.
- For example Will Laing, Partner in our Industrial & Logistics Analytics team, recently discussed how London’s Data Centre boom generates demand for the industrial space needed to support its operations. You can read the full article here.
- Andrew Allen, Head of Investment Strategy, highlighted that the self-storage sector is entering a new phase of maturity in Europe, with growing confidence in the asset class from both private consumers and enterprise customers. At Newmark self-storage is approached through a differentiated lens that combines real estate expertise with investment banking advisory. Read more here.
- And finally, we recently held our annual UK Multi-Let Industrial breakfast event where our experts delved into the data to uncover some key themes emerging in the sector. The most striking is what we've termed the "missing middle", highlighting just how stark the absence of core-plus capital has become. Post-conflict, value-add and above accounted for the overwhelming majority of activity, with core-plus all but disappearing. We were delighted to have Alex Waterworth and Nigel Marsden in attendance.
- Key Contact: John Rodgers, Partner – Head of Capital Markets, Nick Ogden, Partner – Industrial & Logistics Capital Markets
Below is an overview of our collaboration over the past 5 years, including our ongoing instructions and key deals completed across various sectors and locations.
Newmark Multi-Let Industrial Breakfast
Ongoing Instructions
Plaza House, Camden
London
Newmark is providing strategic planning advice to L&G for a change of use of the upper floors and extension of the building to provide a new Class C1 hotel in the heart of Camden Town.
Horizon, Hurley
Berkshire
Instructed to provide disposal advice of near-vacant office building and associated car parking / land. Marketed in challenging market for either conversion or redevelopment. Planning risks for redevelopment but unconditional disposal agreed on this basis. Agreed two overage deeds. Ensured lease surrender prior to completion
Rackhams
Birmingham
Newmark has been appointed by L&G to market this super prime office and residential regeneration. Situated in the heart of Birmingham’s established prime office core and conservation area, planning consent is being secured for the demotion and development of the former Rackham’s department store, with Newmark advising on a 4 year-time horizon to deliver the office component.
Oxfordshire County Hall
Oxford
Newmark has advised on the acquisition of Oxfordshire County Hall on behalf of LGIM with Reef Origin as DM.
Located in the heart of Oxford next to Westgate and the Castle Quarter, the 91,400 sq ft site will be transformed into a four-star hotel with over 190 beds. The Grade II listed Old County Hall forms part of the development. This marks Reef Origin’s second Oxford hotel in partnership with EQ Hotels, following the successful launch of The Store earlier this year.
Premier Inn
Lewes
Instructed to provide advice on the future disposal of the asset and to evaluate any marriage value generated as a result of regearing the hotel lease in advance.
Acquisitions & Disposals
Premier Inn, Lauriston Place
Edinburgh
Newmark combined capital markets knowledge of the Whitbread disposal program with our best-in-class ability to accurately underwrite rental and VP values in support of the purchase price at £24.5m representing 4.75% NIY.
Units B&C, Laporte Way
Luton
Competitive tension achieved between prospective purchasers due to targeted and comprehensive marketing campaign. Despite purchaser attempts to significantly reduce price, sale price achieved in excess of client aspirations and quote price.
Portakabin, Boundary Way
Hemel Hempstead
Investment brokerage and delivered deal in a highly competitive bidding situation.
Acquisitions & Disposals
Hove Gardens
Brighton
Project Sandpiper
A post Covid strategy to reduce exposure to the sector whilst identifying a moment in time where yields for Care UK had peaked making it an opportune time to sell. We utilised our Capital markets’ knowledge of the buyer pool with the ability to appraise the 6 sites on merit based on demographics and rent cover marketing them in their best light.
Sainsburys
Bedford
Following a comprehensive pre-marketing exercise, the strong level of competition necessitated four rounds of bidding. Throughout this process, we worked closely with the client and consulting engineers to deliver an over-roof solution that positively enhanced the building, improving both its operational performance and overall marketability.
Your Dedicated Team
Relationship Lead
Client Services
Capital Markets
John Rodgers
Head of UK Capital Markets
Richard Lines
Operational Capital Markets
Alex Kitts
Operational Capital Markets
Bobby Barnett
Living Capital Markets
Harriet Bantock
PBSA Capital Markets
Richard Fletcher-Brewer
Industrial Capital Markets
Angus Minford
Office & Life Sciences Capital Markets
Leasing Agency & Lease Consultancy
Charles Toogood
National Office Agency
Charles Spicer
Industrial & Logistics Agency
Sven Macauley
Scotland Agency
Tom Ferrier
Office Lease Consultancy
