New investment firm's £500m strategy begins acquisition of Marylebone offices

A new investment vehicle has acquired a 44,500-sq ft newly built office asset on George Street in Marylebone, London W1.

As part of RW1’s planned £500m investment strategy, the firm purchased the OneThreeSix premises for £60m.

OneThreeSix was fully let prior to completion to fintech company Smart Pension, as its new global headquarters. Smart signed a 15-year lease in July 2021, at a rent of £82 a sq ft, in one of the largest West End lettings during the pandemic.

Finn Carew, managing director of investments at RW1, said: “OneThreeSix typifies the high-quality contemporary office developments that RW1 is looking to purchase.

“RW1 plans to build an investment portfolio of new-era workplace buildings, which meet the preferences of today’s occupiers for environmentally sustainable places designed for wellbeing, creativity, innovation, and collaborative working.”

Alasdair Nicholls, partner at RW1 and chief executive of Native Land, said: “The launch of RW1 and the appointment of Native Land as its asset manager reflects the strong personal connections we enjoy with co-investment partners from Asia and the trust they place in us to find and deliver first-rate assets.

“The relationship with RW1 adds a new dimension to Native Land’s business alongside our well-established development partnerships with leading UK and international co-investor partners.’

RW1 has been launched this month by Montrose Land, the private investment vehicle owned by Native Land founders Alasdair Nicholls and Jonathan Mantovani, with co-investment from a number of Asian high-net-worth family offices.