BCLP Advises JP Morgan Asset Management on 465,000 sq ft Pre-Let of One Spitalfields to Jane Street

BCLP has advised JP Morgan Asset Management (JPMAM) on the 465,000 sq ft pre-let of One Spitalfields, 1-10 Bishops Square, in the City of London to quantitative trading firm and liquidity provider Jane Street, the largest off-plan office pre-let in the City in over a decade.

BCLP has a long-standing relationship with JPMAM and the One Spitalfields estate, having advised on asset management and various strategic initiatives at the development over a number of years. On this transaction, the BCLP team advised across all aspects of the project, including leasing, construction and planning, working closely alongside JPMAM and the wider professional team.

JPMAM will oversee a comprehensive, high-sustainability repositioning of the building, which will retain and extend the existing structure, with handover and tenant occupation scheduled for 2029.

Paul Harris, Executive Director, JPMorgan Asset Management said: “A huge thank you to the whole BCLP team for your partnership, counsel and stellar commitment towards helping us deliver this pivotal transaction. This pre-let is an important milestone for this exciting project and we look forward to working alongside you in the years ahead.”

Matthew Pomfret, Partner, Core Real Estate added: "This is a standout transaction for the London office market and a significant milestone for One Spitalfields. We are proud to have advised JPMorgan Asset Management on all aspects of this complex project, drawing on expertise from across our leasing, construction and planning teams. The pre-let to Jane Street demonstrates the strength of demand for exceptional, sustainable office space and provides a strong platform for the next phase of the development. We look forward to continuing to support JPMorgan Asset Management through the delivery of the project and the leasing of the remaining space within the building."

The BCLP team was led by Partner Matthew Pomfret, alongside Senior Associate Richard Brearley with support from Partners Chris Rowe and Clare Milton and Senior Associate Rachel Sheridan. Partner Thomas Haller and Associate Asen Gadzhanov advised on construction aspects and Partner Tim Smith advised on planning matters.

The pre-let to Jane Street was coordinated with the £1 billion refinancing.