Tak Lee’s pre-Christmas sale sealed 2023’s biggest West End deal

Samuel Tak Lee’s sale of a £300m slice of the Langham Estate, W1, to Elliott Management and Oval Real Estate made it over the line just before Christmas, making it 2023’s largest West End deal. The Lotus Portfolio comprises 27 freehold assets covering a mix of offices, retail, leisure, educational, medical and residential uses centred around Great Portland Street. It came on to the market with a price tag of £500m in August through JLL and Savills. A private residential developer is understood to have bought a residential building from the portfolio for around £50m. Elliott and Oval were advised by Colliers on the acquisition, which was still being hammered out in December. See occupational sales comparables in W1>> To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews