DLA Piper Supports Cheyne Capital and Stanhope in £450 Million South Bank Office Development

DLA Piper has advised Cheyne Capital and Stanhope plc, through a newly formed joint venture (JV), on the acquisition of the Red Lion Court office development site from Landsec. The firm also provided legal guidance on the formation of the JV itself.

The fully consented scheme, known as Row One, is set across a 1.24 acre site and will comprise two basement levels and 11 floors above ground, delivering approximately 235,000 sq ft of highly flexible office space with generous floor-to-ceiling heights. Additionally, the development will include 15,000 sq ft of retail and F&B space.

The finished scheme will boast 18 terraces, most with views of the River Thames. It will also feature world-class amenities, including a club room and wellness center, as well as market-leading end-of-trip facilities, such as 724 bike spaces and 54 showers. The project will also include a carefully curated new public realm.

Stanhope will take responsibility for managing the delivery of the scheme, with demolition works already completed. The main construction is scheduled to begin in early 2026 following enabling works, with an estimated two-year build period.

DLA Piper advised across a broad range of areas, including Corporate, Finance, Tax, Real Estate, Planning, and Construction. The team, working on the JV and transaction, was led by partners Lorna Edwards (Corporate), Jonathan Northey (Real Estate), Christopher Chan (Finance), and Stephen Malley (Construction). They were supported by Associate Ellie Carter (Finance), Legal Director Gemma Grunewald (Tax), Senior Associate Dhaksha Giga, Associates Jake Manton and Matthew Manwaring (Corporate), Legal Director Sally Whitney and Senior Associate Chris Barker (Real Estate), and Associate Lotte McGuire (Construction).

Christopher Chan, Head of Real Estate Finance, commented: “The team at DLA is delighted to have been able to support both the Cheyne and Stanhope teams on this landmark scheme, providing advice across the full spectrum of legal services. It’s great to see continued investment in the London office space and the confidence that key players such as Cheyne and Stanhope have. We are excited to see this build out over the coming months.”

In 2024, DLA Piper’s international firms advised on Real Estate deals worth over EUR31.6 billion. The volume and complexity of deals on which it has consistently advised put us at the forefront of providing legal advice to the real estate sector and enables us to share our market knowledge and find creative solutions for our clients that help them achieve and exceed their goals.