LBS acquires One Wood Street in partnership with Meadow Partners

LBS, in partnership with Meadow Partners, has acquired One Wood Street. LBS has also been appointed as asset manager.

One Wood Street is a 184,184 SF landmark headquarters office building in the core of the City of London, situated between the Bank of England and St Paul’s Cathedral.

The building benefits from outstanding connectivity, being in close proximity to Bank and St Paul’s underground stations, whilst the Elizabeth line is accessed via the nearby Moorgate station.

The offices are leased in full to the global law firm, Eversheds Sutherland LLP, whilst three prominent retail units front onto Cheapside – the City’s primary retail thoroughfare.

 

James Willson, Managing Director (Offices) of LBS, said of the acquisition:

“One Wood Street presented a rare opportunity to acquire a high-quality, reversionary asset in a core City of London location at an interesting point in the cycle. We look forward to working closely with Meadow Partners over the coming years to execute our business plan.”

Business Growth: Q&A with Henry Giles, new MD of Industrial

We’re pleased to welcome our new Managing Director of Industrial Real Estate, Henry Giles, to the LBS team. We sat down with Henry to hear his thoughts on leadership, vision, and the road ahead. In this conversation, he shares his personal mission, outlines some key priorities, and what personal foundations keep him grounded beyond the office.

What attracted you to this role, and what mission have you set for yourself in leading your area of the business over the next 3–5 years?

I was attracted by the market reputation and achievements of the LBS team. The dynamic and entrepreneurial environment was a big draw for me and we are aligned in thinking that market timing is optimal for industrial strategies backed by long term, structural trends. The offer to come in and grow an industrial segment of the business – with the ability to work with LBS’ existing capital partners to develop interesting risk-adjusted strategies – was too good to turn down.

How do you define success for this company in today’s industrial real estate landscape?

Success, for me, starts with trust from our capital partners. If investors see us as a reliable steward of their capital and a partner they want to allocate with repeatedly, that is the clearest indicator we are doing the right things. From a business perspective, success is delivering consistent, risk-adjusted performance through different points in the cycle. In today’s industrial real estate market, that requires discipline in underwriting, a clear strategy, and the ability to adapt as market conditions evolve. Equally important is building strong relationships internally and externally—with investors, occupiers, and other stakeholders —because long-term performance in this sector ultimately comes from the quality of those partnerships.

What differentiator do you believe we can build, or strengthen, to stand out in the industrial sector?

I think we are at a very interesting moment for mid-sized real estate platforms. Firms that are entrepreneurial and agile, but also willing to thoughtfully embrace technology, have a real opportunity to punch above their weight. LBS already has a strong reputation in the market for being trusted, decisive and able to move quickly. If we can strengthen that by selectively adopting technological solutions—particularly around using data to underpin our thematics, in sourcing opportunities, and how we are operating assets—we can significantly increase our productivity and decision-making quality. The key is doing this within the right governance and risk framework, so that technology enhances rather than replaces experienced judgement. Ultimately, if we can remain adaptive to changing market conditions while leveraging technology to scale our capabilities, we can deliver better outcomes for our investors & stakeholders and differentiate ourselves from more traditional platforms.

At the end of your tenure in this role, what would you like colleagues, partners, and investors to say about your impact?

I would hope that our investors would say I was a trusted and reliable partner who understood their objectives and managed their interests with discipline, transparency and a long-term perspective. Ultimately, their success should be our success, so delivering strong outcomes while maintaining that trust would be very important to me.

From colleagues and partners, I would hope they would say that I added genuine strategic value to the business — helping to strengthen the organisation, support the right decision-making and improve overall performance. More broadly, I would like to be seen as someone who helped build a strong, resilient platform that is well positioned to perform across different market cycles.

What has kept you passionate about this industry during your career so far?

What has kept me passionate about this industry is ultimately the people. Real estate is a highly relationship-driven business, and throughout my career I’ve enjoyed working with commercially minded, collaborative individuals and building long-term partnerships. I’ve also found the evolution of the industrial sector particularly motivating. Over the past couple of decades it has shifted from being viewed largely as the income component of a diversified portfolio to a sector increasingly shaped by technology, data, and changing consumer behaviour.

At the same time, there is still significant room for innovation and improvement. That creates opportunities for dynamic investors to position themselves around long-term structural trends that extend beyond individual market cycles. That combination of strong relationships and constant evolution is what continues to keep the industry interesting for me.

Looking back at your career so far, what experiences have shaped your management style the most?

I’ve been fortunate to work with a wide range of talented professionals across different organisations and structures throughout my career. Experiences such as helping to build platforms, working across both public and private environments, and raising capital have given me valuable insight into leadership, accountability, and the importance of strategic alignment.

Equally, being trusted and supported at different stages of my career has shaped how I approach managing others. I’ve seen first-hand how important it is to give people clear direction, back them to take ownership, and create an environment where they can perform at their best. Those experiences, along with exposure to strong leaders and complex business situations, have led me to adopt a collaborative, commercially focused, and supportive management style.

Real estate can be cyclical and high-pressure. How do you personally stay resilient and focused during challenging market periods?

I think the first step is recognising that real estate is inherently cyclical. Periods of slowdown are a natural part of the market, and maintaining that perspective is important. Challenging phases—such as the period we’ve been experiencing since 2022 — are temporary and often lay the groundwork for the next set of opportunities. Having experienced several of these periods in my career, my focus at LBS will be on building a platform that can deliver in good markets; but also has the resilience to be able to navigate tougher environments when they arise. I try to stay focused on long-term strategy and trends rather than short-term volatility. By planning ahead and positioning the platform carefully, we hope to be in the best position to act when market conditions improve.

Outside of the office, what activities or interests help you recharge and maintain perspective as a leader?

I live in South West London with my wife and three young children, I really value being present at home with them. When I have time I like to ski, play some golf and get down to the Stoop to enjoy the rollercoaster of being a Harlequins fan.

Connect with Henry on LinkedIn: Henry Giles | LinkedIn

TIDE: Two floors remaining

Alongside our joint venture partner, Barings Real Estate, LBS is pleased to welcome three new occupiers to TIDE – our flagship, highly-sustainable development on the Southbank.

Alongside existing tenants in the building (NewFlex, Costello Medical, Flight Centre and Workplace Futures Group), three more floors have been leased, totalling over 41,000 sq ft.

The 13,650 sq ft eighth floor has been leased to a leading European intellectual property firm, whilst the sixth floor (14,004 sq ft) has let to Waterman Group and the fifth floor (13,994 sq ft) is to be occupied by Haleon.

The building is now over 80% let, with only the fourth and ninth floors remaining.

Cushman & Wakefield, RX London and USP are the appointed leasing agents.

 

James Willson, Managing Director (Offices) at LBS, commented:

“We are delighted to see the sustained leasing momentum at TIDE, with the diverse tenant mix being testament to the quality of the development, along with the ongoing appeal of the Southbank to prestigious occupiers.”

LBS Appointed as Development Manager for 105 Jermyn Street

LBS has been appointed as Development Manager for 105 Jermyn Street, working in partnership with Victory Group to deliver the comprehensive refurbishment and extension of this landmark St James’s asset.

The project will transform 105 Jermyn Street into a 20,000 sq ft best-in-class office scheme, combining modern, sustainable workspace with outstanding design. The scheme will deliver a new façade, extensive terracing including a rooftop communal terrace with panoramic views across London, market-leading amenity provision and strong sustainability credentials.

105 Jermyn Street responds to sustained occupier demand in the core West End market, where discerning tenants increasingly require buildings that offer an exceptional quality of environment, amenity and operational performance, in the context of a supply-starved market.

CBRE and Newmark have been appointed as leasing agents for the scheme.

 

Nick Crawford, CEO at LBS Properties, commented:

“We are hugely excited to be working alongside Victory Group to deliver what will be a stand-out office retro-fit scheme in St James’s – one of the most in-demand sub-markets in central London, in a favourable market context of minimal Grade A supply in the core West End.”

95 New Cavendish Street: Construction Commences

LBS Properties, acting on behalf of AEW, is pleased to confirm that the construction contract with Ambit for the redevelopment of 95 New Cavendish Street, Fitzrovia has been executed, with works now underway on site.

The appointment of Ambit as main contractor marks a major milestone in the transformation of this prominent West End building.

Designed by Stiff + Trevillion Architects, the scheme will deliver a best-in-class office with a strong emphasis on sustainability.  The project is targeting BREEAM Excellent, EPC A and a WiredScore Gold rating.

Upon completion, the building will incorporate a new façade, a setback roof extension and a generous communal roof terrace and clubroom facility, providing high-quality, contemporary workspace in one of London’s most sought-after office locations.  Practical completion is anticipated in Q1 2027.

Cushman & Wakefield and RX London have been appointed as leasing agents for the scheme.

 

Mark Tizzard, Managing Director at LBS Properties, commented:

“Executing the building contract and starting works marks an important step forward for this project. Together with our contractor and consultant team, we look forward to delivering an exceptional sustainable workspace in one of London’s most desirable office locations.”

25 Moorgate Reaches Practical Completion

LBS Properties, alongside our partner Barings Real Estate, is pleased to announce that 25 Moorgate has reached practical completion, marking a significant milestone in the continued delivery of high-quality office accommodation in the City of London.

Situated in the heart of the City, within close proximity to the Bank of England, the 72,000 sq ft development has been designed to meet the evolving requirements of modern occupiers, combining contemporary office accommodation with an outstanding tenant amenity offering.

The building delivers best-in-class sustainability credentials, having attained an EPC A rating (with a BREEAM ‘Outstanding’ rating pending), placing it among the most sustainable office schemes in central London.

The quality of the project is underscored by its pre-letting in full to global law firm, Watson Farley & Williams LLP, demonstrating the sustained occupier demand for well-located, best-in-class office space in the City Core.

The tenant will benefit from exceptional amenity provision, including generous communal roof gardens and high-quality end-of-trip facilities, reflecting the increasing importance placed on wellbeing and workplace experience by today’s most discerning corporates.

 

Mark Tizzard, Managing Director at LBS Properties, said:

“We are delighted to achieve practical completion at 25 Moorgate. This project represents our continued commitment to delivering best-in-class office buildings in central London, and we look forward to seeing it contribute to the ongoing strength and appeal of the City.”