Bristol and London law firm Temple Bright has advised leading real estate asset and investment management business Oxygen Asset Management on a significant property deal in the heart of the City of London.
Oxygen’s acquisition of 11 Leadenhall Street, a 15,117 sq ft freehold office building, pictured, forms part of a strategy to exploit returns from smaller lot sizes. 
The property comprises a basement, ground floor and seven upper floors, including a retail unit let to Starbucks. It is let to seven tenants with an occupancy rate of 91%.
Oxygen head of asset management Jonathan Barber said the building was the first acquisition for its value-add office strategy in central London.
“Our plan is to upgrade the building, providing best-in-class offices and new amenity facilities with sustainability principles embedded into our decisions from day one,” he added.
“The acquisition demonstrates our belief in the future performance prospects for best-in-class offices in core central London locations.”
Temple Bright’s support on the deal was led by real estate partner Iain Macfarlane, pictured, who said it had been a privilege to again work with Oxygen. 
“Now that they have completed the acquisition of this period building in a prime City location, I wish the team all the best with their planned asset management initiatives,” he added.
Oxygen co-founder Mike Harris said: “At Oxygen we are all delighted with this acquisition.
“A little gem of a building that just needs some TLC to reveal its potential. Thanks to Iain and Temple Bright for support once again on this latest deal.”
Temple Bright co-founder Tim Summers said: “Congratulations to Oxygen on this significant deal involving a beautiful City building in a prestigious location.
“As a firm we especially enjoy deals involving iconic buildings close to our own base, that we know will be improved as a result of the deal.
“We will be watching with interest as Oxygen brings out the full potential of this superb City asset.”
Temple Bright was launched in Bristol in 2010 using a tech-enabled, streamlined business model. It opened its second office in London EC2 in 2013 and now has more than 75 partners, evenly spread across the two locations.
The firm advises clients ranging from start-ups to PLCs across a range of sectors, with significant expertise in real estate work.
