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New UK & Asia Investment Group Makes First Purchase

A new investment vehicle launched by Native Land’s founders alongside private Asian investors has acquired a 44,500 sq ft office asset in London.

Investment vehicle RW1, which was launched this month by Montrose Land and Native Land founders Alasdair Nicholls and Jonathan Mantovani, purchased the newly built OneThreeSix on George Street in Marylebone, London W1. OneThreeSix is the first purchase of a planned c£500m commercial property investment strategy for the firm, which also has co-investment from a number of high-net-worth Asian family offices.

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 reportedly paid around £60m for OneThreeSix, which was fully let to fintech company Smart Pension as its new global HQ prior to completion. Smart Pension signed a 15-year lease in July 2021, at a headline rent of £82 per-sq ft, making it one of the largest West End lettings during the pandemic.

OneThreeSix is one of the first all-electric powered office buildings in central London and is operationally carbon zero. Designed with productivity, sustainability and wellbeing as priorities, the building, targets BREEAM Excellent, WiredScore Gold and WELL Building Ready ratings.

Finn Carew, Managing Director – 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.”

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