This London landmark is on sale for £450M – it could be the biggest West End deal since 2022

London’s famous retail and commercial island site at the junction of Piccadilly Circus is on sale for £450 million (S$779.93 million). The freehold site, also known as Lucent, is known for the recognizable Piccadilly Lights, the largest advertising screen in Western Europe. The one-acre mixed-use site includes 188,000 square feet of mixed-use space with new offices (126,000 square feet) and four flagship retail stores totaling 58,000 square feet. The stores front Regent Street and Shaftesbury Avenue, and are leased to tenants such as Boots and Lindt. If the property is sold, it would be the largest single sale in London’s West End since 2022. The property is sold by UK-based commercial development and investment company Landsec, which has appointed Savills and investment bank Lazard as joint marketing and sales agents. While the sale of the asset includes the freehold that underpins the iconic Piccadilly Lights, Landsec will continue to operate the digital infrastructure…