Shoosmiths’ real estate investment group completed £1bn worth of transactions in Q4 2024 (October 1 – December 31, 2024).
In a resilient performance amidst a challenging, but improving market, the group advised on transactions across strategic land, build to rent (BTR), industrial and logistics, offices, and retail.
BTR booms
One of the group’s most active sectors was BTR, with the team completing several significant deals.
These include acting for a joint venture between Invesco Real Estate and PLATFORM_ on the successful sale of a 608-home portfolio - one of the largest BTR transactions completed in 2024.
Shoosmiths advised Hopkins Homes on a £40m deal with Invesco Real Estate to deliver 99 BTR homes at its Beaulieu development. The team also played a key role in another market-leading transaction, supporting the sale of Gatehouse Living and Sigma Capital’s single-family rental portfolio, comprising 821 dwellings, to Citra Living, which has since been rebranded as Lloyds Living.
In Leeds, the firm supported Torsion Group in the sale of 300 BTR homes to Toronto-based Starlight Investments. The Flax Place scheme includes two towers currently under construction, which will provide a mix of one to three-bedroom units and 63 underground parking spaces.
Strength in industrial and logistics
Industrial and logistics continued to drive dealmaking for the group. Highlights include advising on the sale of 52 acres of land for industrial and logistics development at Hallam Land’s Pickford Gate project in Coventry. This was followed by the sale of 632 residential plots at the site to Vistry Group.
The group also advised Feldberg Capital on the formation of Origin, a UK-focused industrial and logistics platform launched in partnership with HBD, part of Henry Boot. Origin aims to deliver up to £1bn worth of developments over the next seven years, starting with an initial £100m seed portfolio.
Other highlights include advising Manston Properties on the sale of the 12-unit Tavistock Industrial Estate in Twyford and the purchase of 1 and 2 Crown Street in Carlisle.
Offices and retail
In November, Shoosmiths advised Northwood Investors on the sale of the Frith + Bateman building - a mixed-use scheme in the heart of Soho, to Global Holdings. This was followed in December by supporting Bridges Fund Management on the sale of Middlemarch Business Park in Coventry.
The retail market also showed strong activity, with the firm completing several retail park transactions during the period, reflecting increasing investor interest in the retail sector.
Kate McCall, partner and joint head of Shoosmiths’ real estate investment group, commented:
“Hitting a £1bn milestone in Q4 2024 demonstrates the ambition and expertise of Shoosmiths’ real estate investment team. It reflects not only our strong quarterly performance, but also our ability to guide clients through a challenging year, navigating complex transactions with confidence.
“As we look ahead to 2025, we are cautiously optimistic. Early signs suggest that momentum is continuing despite economic headwinds and rising borrowing costs. Clients are actively exploring opportunities across asset classes, with the industrial and logistics market posing a particularly attractive entry point for investment.
“Current deal flow indicates growing investment traction in the retail sector as yields harden, as well as in the hotels and leisure market. According to data from Savills, UK hotel investment transactions were estimated at £5.75bn in 2024 - doubling the volume recorded in 2023 and reaching the highest level of activity since 2018. We are closely monitoring developments in these markets.”
Nathan Rees, partner and joint head of Shoosmiths’ real estate investment group, said:
“Reflecting on the past year and the latest quarter, the living sector - particularly build to rent – remains a standout for investors. This is underpinned by its supply and demand dynamics, government focus on increasing residential delivery, and the growing institutionalisation of the sector.
“The retail, industrial, and logistics markets are also showing promise, with robust occupier demand. The coming year holds the potential for a resurgence in UK real estate investment. As a vital part of the government’s growth agenda, maintaining economic stability and fostering a pro-business environment will be crucial. This will build investor confidence, especially internationally, and enable our clients - many of whom are launching new platforms – to achieve their ambitions in the UK.”
Disclaimer
This information is for general information purposes only and does not constitute legal advice. It is recommended that specific professional advice is sought before acting on any of the information given. Please contact us for specific advice on your circumstances. © Shoosmiths LLP 2025.