Slaughter and May is advising Derwent London on the acquisition of the remaining 50% in its 50 Baker Street scheme

Slaughter and May is advising Derwent London on the £44.4 million acquisition of the remaining 50% stake in its proposed 50 Baker Street W1 scheme from Lazari Investments, its joint venture partner. A resolution to grant planning consent for a new office-led scheme of approximately 240,000 sq. ft. was passed by Westminster City Council in August 2024. The acquisition of full control of 50 Baker Street follows the successful pre-letting at Derwent London’s adjacent 25 Baker Street W1 project, on which we are also advising.

Paul Williams, Chief Executive of Derwent London, said: “West End vacancy remains low and demand from high quality occupiers across a broad range of business sectors continues to outpace supply. Underpinned by our confidence that the property cycle has inflected, we believe now is the time to acquire well-located regeneration opportunities. Our decision to take full ownership of 50 Baker Street reflects this and marks the conclusion of a successful partnership with Lazari. We look forward to progressing the project to the next stage, with works expected to commence on site in H1 2026”.