M Core Signs 9,688-Square-Foot Office Lease at Redevco's ONE James Street in London's West End

Redevco has announced that M Core has signed a lease for 9,688 square feet of office space on the third floor of ONE James Street, a refurbished mixed-use building located just off Oxford Street in London's West End, selecting it as the group's new UK headquarters.

M Core, a pan-European collective of privately owned property investment and management companies, signed the lease through LCP UK. The group operates a diverse portfolio spanning retail, industrial, office and logistics assets across the UK and Europe. Savills and Mellersh & Harding served as joint letting agents for the building, while Nick Raven at Hanover Green represented M Core in the transaction.

ONE James Street: A Refurbished West End Asset

ONE James Street sits at the convergence of Oxford Street and James Street in London's West End, within a two-minute walk of Bond Street Station and close to Oxford Circus and Marble Arch. Redevco undertook a comprehensive refurbishment of the building, transforming it into a mixed-use destination comprising 43,000 square feet of Category A office and amenity space across five floors, above a 25,000-square-foot flagship retail unit at ground level.

The total building spans approximately 66,340 square feet of office and commercial space. The refurbishment was designed by Leslie Jones Architecture and includes a communal roof terrace and pavilion with skyline views, extensive biophilic design features, a business lounge, collaboration space, bookable meeting rooms, a multi-faith room, gym facilities and end-of-trip amenities. The project targets WELL Platinum and BREEAM In Use Excellent certifications.

The ground-floor retail space was let in December 2024 to PUMA for a London flagship store. The sportswear brand's store, described as PUMA's largest European flagship and one of three global flagships, occupies the ground, lower-ground and first floors across the Oxford Street and James Street frontage. With M Core now committed to the third floor, the building's office component is seeing leasing momentum following the establishment of the retail anchor.

M Core's HQ Consolidation

The lease marks the first time LCP and Sheet Anchor Evolve — two businesses operating within the M Core group — will be based under one roof.

"ONE James Street marks the first time LCP and Sheet Anchor Evolve will operate together under one roof, and that is a significant moment for M Core," said Ben Chislett, Group Chief Operating Officer at M Core. "Our businesses share the same approach of hands-on asset management, long-term ownership, and fast, accountable decision-making. Bringing the teams together in one space strengthens the collaboration behind that, from shared market intelligence to moving more quickly on opportunities for our occupiers and partners."

Chislett added that the quality of the refurbishment, the wellbeing and amenity offer, and the West End location were determining factors in the selection. "The quality of the refurbishment, the wellbeing and amenity offer, and the location in the heart of the West End made ONE James Street the clear choice. We look forward to making it home."

Redevco's Repositioning Strategy

Redevco began planning the refurbishment of the Oxford Street and James Street building in April 2024, with a stated goal of creating a net-zero carbon in operation asset. By September 2025, the firm formally launched the office floors to the market with 18,590 square feet available, and by December 2025 the transformation was described as nearly complete with PUMA's flagship open and the office space ready for occupiers.

Deborah Green, Head of Asset & Transaction Management, UK at Redevco, said the lease underscores demand for well-specified office space in central London. "Securing M Core at ONE James Street for its new UK headquarters is a strong endorsement of both ONE James Street and the demand for high-quality office space in key central London markets," Green said. "ONE James Street exemplifies Redevco's commitment to delivering future-proofed office spaces that support the evolving needs of occupiers. This refurbishment project also reflects Redevco's wider mission to create lasting value for investors and enrich communities through transformative real estate."

Market Context

The M Core lease arrives at a time when Grade A vacancy in London's West End remains low and prime rents are at elevated levels, conditions that have supported demand for repositioned, sustainability-led office product. ONE James Street's sequencing — securing a global retail anchor at street level before committing office floors to a headquarters occupier — reflects a broader pattern of mixed-use repositioning in central London submarkets where occupier requirements increasingly center on location, amenity and environmental credentials.

Redevco is one of Europe's largest privately owned real estate management firms. The ONE James Street transaction was announced September 2, 2026.

Sources

Redevco: M Core chooses ONE James Street for new UK HQ