Herbert Smith Freehills has acted for a Brookfield Office Properties and Oxford Properties joint venture on the pre-letting of the whole of One London Wall Place to fund manager Schroders. The transaction is believed to be the largest pre-let in the City of London since 2010.

The Herbert Smith Freehills cross-practice team (which comprised over 20 lawyers) was led by real estate partners, Donald Rowlands, Head of UK/EMEA Real Estate, and David Rosen.

Don Rowlands commented: “We are delighted to have acted for Brookfield-Oxford on this milestone pre-let in the City letting market. The transaction involved multiple workstreams and challenging timescales and all the advisers worked collaboratively to help ensure that this excellent outcome was secured for our clients."

One London Wall Place will provide Schroders with 310,000 sq ft of office space across 12 storeys. Formal construction of the building is planned to start in July 2014 with delivery of the completed building expected in late 2016. The development will also include approximately 70,000 sq ft of new public realm and a second building, Two London Wall Place, providing a further 190,000 sq ft of office space.

Allen & Overy LLP, Deloitte Real Estate and Savills acted for Schroders. The freeholders, the City Corporation, were represented by Clifford Chance LLP.