Macfarlanes has advised Stanhope on the £450m acquisition of Row One from Landsec, in a joint venture with Cheyne Capital. The landmark South Bank development site has planning consent for a new 250,000 sq ft prime office tower with a Gross Development Value of £450m.

Stanhope will be responsible for managing the delivery of the development. With demolition work already completed, the main contract programme is scheduled to commence in early 2026 following enabling works, with an approximate two-year build period. 

The scheme will provide c.235,000 sq ft of Grade A office space across 11 floors, alongside 15,000 sq ft of retail and F&B. The all-electric development is targeting BREEAM Outstanding, NABERS UK 5* and WELL Platinum certifications, with a net zero in operation ambition.

Once complete, Row One is expected to make a significant contribution to the ongoing renewal of the South Bank and Bankside, strengthening its position as one of Central London’s most dynamic cultural and commercial districts. The development will deliver modern, flexible office space supported by high-quality amenities and new public realm, meeting occupier demand for sustainable, well-connected workplaces.

The Macfarlanes team was led by Real Estate Partner Dan Marriott with Angus Dawson, supported by Senior Counsel Rebecca Whatman and Radhika Shah, and Associate Joseph Miller. Tax advice was provided by partner Sarah Shucksmith and Senior Associate Rebecca Rose. 

Dan Marriott commented: “We are pleased to have advised Stanhope on this significant development opportunity. Row One represents a rare chance to deliver a best-in-class, sustainable office development in one of London’s most vibrant sub-markets, and we look forward to seeing the scheme progress.”

The Macfarlanes Real Estate team acts across all sectors of the industry on the most complex and high-profile development and investment work, joint ventures and cross-border matters, real estate fund structuring and inward investment.