Founded in 2010, we are a leading UK-based private real estate investor that combines research-led investment themes with vertical integration and in-house operating platforms. What is a little less intuitive is that different sized occupiers value each of these two benefits to varying degrees. Visit our. Furthermore, we noticed that acquisition office values per square meter in many cities on the continent are not too far apart from what they are in UK regional markets. Our team is encouraged to collaborate and think creatively, to ensure that we retain our competitive edge. The Firm invests in the commercial, residential, retail, industrial, and hospitality sectors . It plans to use its flexible workspace provider Clockwise to deliver a positive experience for occupants as well as attractive returns for its investors. Welcome to IPE Real Assets. Moving forward, for many companies flexibility is going to be key when it comes to office space leases. Core, 30 Brown St PMP provided complete property investment solutions for Castleforge through Project Management, Contract Administration, Principal Designer and Cost Management services. They told us that while they do have space already around the area, this was for a specific project team. The four sites together hold a gross development value of over 175 million. To receive priority invites and tips on how to communicate purpose please add your email. Rethinking Retirement Plans Is Phased Retirement The Future? Clockwise provides contemporary private offices, shared workspaces and meeting rooms with flexible membership plans in key business locations across the continent. Would you like to read more? We invest in real estate located in and around select UK and European cities. Clockwise's owners, Castleforge Partners, has appointed Evora, a leading sustainability consultant, to help develop and implement a sustainability strategy framework for their business and investment portfolio. Mar 4, 2022 - Anonymous Employee. We are a UN PRI signatory and a GRESB participant. Even if we charge a higher rent per square foot, this is still a more cost-effective option for the larger tenant versus taking on a longer-term lease for more space than required, just in case they need more in the future. A members' lounge is to be created within the former Council Chamber. A lot had changed since his last visit there. A completely new M&E system was designed and the installation had to compliment the old building but provide modern energy efficiencies and meet current standards. At our Liverpool asset we have also experienced blue chip tenants approaching us on a 5-10 year lease basis because the building also provides overflow space for them through Clockwise that can eventually be converted into an additional lease if required. Higginson Strategy organises a number of exclusive events for clients and friends over the course of the calendar year. We are committed to socially responsible business plans. 3233596, VAT No. Sign up to our weekly round-up of plastic free stories. However, these businesses are all looking for ways to improve their operating margins, and they realise that what they spend annually on real estate is one of the most inefficiently utilised items in their income statements. Though weve grown, weve maintained that spirit which allows us to be thoughtful, rigorous and innovative in our approach. We are thrilled to be contributing to these vibrant professional communities in every corner of the country. For Media Enquiries, please contact: castleforge@higginsonstrategy.com +44 (0)786 605 1626. To find out more, read our cookie policy. All this in the 1970s brutalist building that had once been voted one of the ugliest buildings in Glasgow but that is now experiencing a rapidly improving market perception. We use cookies on the site to improve your experience. Rather than provide a white box for tenants to take on traditional leases where they themselves have to fit out their space, we have begun to also offer a fit out option on the smaller floorplates to a turnkey stage (meeting rooms, furniture, desks, toilets and all) where a tenant can sign the lease and begin working the very next day. Support new businesses to thrive and create positive socio-economic impact in our local communities. Additional phases are due to be released. Biophilic design and employee wellbeing has been prioritised throughout the design by bringing nature into the heart of the project. The Million Dollar-Mistake Businesses In California Cannot Afford To Make: Compliance Deadline Approaching! Provide spaces and services that enhance the productivity, health and wellbeing of colleagues and members. Examples include skill-specific educational courses that team members are welcomed to take, our internal library filled with books (albeit many of which are still in pristine i.e., unread condition) or our, Within our discussion of serviced offices, its important to separate the product offering from the business model. Brandon Hollihan, Founding Partner of Castleforge Partners, said: Select secondary cities in the UK are continuing to grow as business hubs for young professionals and exciting start-ups. We use cookies to ensure that we give you the best experience on our website. Whether youre expanding your team or chasing your dream. Clockwise Commercial Quay embraces many unique features into the CAT B refurbishment. It is the third major hotel investment made by Castleforge this year, following deals . Formed by Castleforge Partners, a private equity real estate investment firm which owns and operates its spaces, Clockwise is backed by a powerful property portfolio. Brandon Hollihan, founding partner of Castleforge Partners, said: Select secondary cities in the UK are continuing to grow as business hubs for young professionals and exciting start-ups. 2023 Future Of Work Forecast: Five Ways Tech Will Change The Ways We Work In 2023, 2023 Instagram Trends Reveal How To Market To Gen Z, 2023 Future Of Work Forecast: Focus Marketing On Values and Customer Experience, Not The Product, Want Your Coworking Newsletter to Actually Convert? For more information visit www.castleforgepartners.com. Clockwise is owned by private equity real estate investment firm Castleforge, which owns and operates its spaces across the UK. Castleforge Partners Fund Native Currency GBP Fund Manager's Location The Heals Building 22-24 Torrington Place London WC1E 7HJ England, United Kingdom +44 020 0000 0000 Fund Domiciles United Kingdom: Guernsey Castleforge Partners Fund III Investment Strategy Investments by Industry Investments by Deal Type Want detailed data on 3M+ companies? Whether you need to meet face to face, dial in, log on or do it all at once. The Heal's Building 22-24 Torrington Place London WC1E 7HJ +44 (0)207 637 4335. We note that the likes of Great Portland Estates and Derwent London, who often deal with smaller floorplate occupiers and who have had a more difficult time recently as those smaller occupiers have used serviced office as a substitute to traditional leases, are themselves fitting out the space to a turnkey finish so as to win back tenants from the likes of WeWork and The Office Group. Edward Pavilion is a Grade 1 listed building based on a UNESCO World Heritage site with a mix of open-plan floor space and serviced offices operated by Clockwise. The London-based private equity real estate investment firm said it has bought Yorkshire House in Leeds, Linley House in Manchester, Broadwalk House in Exeter, and Mountbatten House in Southampton. To date, Castleforge Partners have invested over 500 million of asset value throughout . We offer high-quality affordable multi-family housing. This site uses cookies. The investment comes as Castleforge looks to expand its foothold in the UKs secondary cities, which the firm has identified as having great potential to grow as national and regional business hubs. Across Europe and the US, real estate markets are strained today to a degree that we have not observed since the global financial crisis (GFC). If you continue to use this site we will assume that you are happy with it. Martin Claisse - Castleforge Partners: Project Manager: Adrian Poucher - Malcolm Hollis LLP: Architect: John Lee - Povall Worthington: Cost Consultant: Michael Riordan - Linesight: M&E Engineers: Thomas Lehd - Lehding Services Design: Structural Engineers: . London While US real estate outperformed in recent years, all investors know that past performance says little about future returns, and the next decade may look very, The internet has already changed the lodging sector in meaningful ways. Castleforge Announces New Partners. We note that recently, Ernst & Young (E&Y) announced that they are looking to increase the proportion of flexible offices in their estate from 10% to 30% in the UK and Ireland. In apresentation of April 2022, the company declared that all its investment activities would be guided by a new mandate going forward:If not Flex or HQ repositioning [] [then] exit.GPEs latest annual report describes, In this paper, we lay out the case for investing in European real estate, particularly relative to US real estate, in the coming decade. Registered Office: 1 Kentish Buildings, 125 Borough High Street, London SE1 1NP, Germany eases tax on Spezialfonds investing in renewables, Ivanho Cambridge, Belfius, Belgiums SWF back co-living firm Cohabs, Patrizia Infrastructure acquires Italian bio-LNG producer Biomet. If economic fundamentals continue to soften, liquidity problems could turn Market Commentary Reading Time: 2 minutes Across Europe and the US, real , Reading Time: < 1 minute The London-focused office REIT Great , Reading Time: 2 minutes In this paper, we lay out , Reading Time: 3 minutes The internet has already changed the , Reading Time: 4 minutes As weve discussed before, the office . From modest beginnings in Glasgow, we currently operate a number of locations up and down the UK with many more openings in the pipeline. We use cookies on the site to improve your experience. Flexible workspace provider Clockwise will manage the four new sites, located in secondary cities across England. Castleforge Partners has acquired its first office building in Germany, in the historic old town of Bremen. Clockwise will cater to businesses of all kinds, ranging from freelancers to SMEs, whilst also regularly hosting . Castleforge Partners is a private equity real estate investment firm based in London, UK that has invested approximately 1 billion of asset value throughout the UK and Europe. Dentons Europe served as legal advisor for Castleforge Partners while Drees & Sommer were mandated as technical advisors. High end fit-out of 6 floors including reception. In his January 2021 memo, Something of Value, he writes that their obsession with cheapnessor more specifically, with a nave definition of cheapnesshas confounded their ability to spot genuine value. CEO, Markus Reinert FRICS, said: We are delighted to have supported Castleforge Partners during their entry into the German market and we look forward to working together as the firm further expands into the country.. Sustainability is ingrained in our corporate vision and values, our culture, and everyday actions. Castleforge Partners purchased the 197-bedroom hotel, located in the heart of the capital, from a private owner who had owned the hotel for 14 years. The whole team is involved from the outset, and the process incorporates a holistic approach to sourcing investments, which leverages our local knowledge and extensive connections. Fantastic to see this landmark heritage building given a new lease of life. Castleforge has purchased Yorkshire House in Leeds, Linley House in Manchester, Broadwalk House in Exeter, and Mountbatten House in Southampton. If you continue to use this site we will assume that you are happy with it. Virna Asara Editor Profile Events We create environments and experiences that are as personal as they are professional. Rachael Pittaway is a director at Castleforge Partners, the real estate investment firm behind Clockwise Offices. LONDON-based property investment firm Castleforge Partners has appointed Christian Lerche to head its asset management in mainland Europe and to support further European growth, following its recent expansion into the German commercial market. Manchester ft. of CAT A space which included circa 22,000 sq. CAT B office refurbishment, in line with Clockwise design standards, to create a serviced office across 5 office floors, refurb of the common parts and creation of a new roof terrace. A hot-desk for the freelancer, satellite worker or lone wolf who needs space to focus and fire up their next project. Tony McDonough reports. commercial space Michael Riordan Managing Director, United Kingdom United Kingdom See All Contacts Contact Representative Back to all projects The clock reset to 20 seconds and Scherzer was already in the stretch. Clockwise provides well-designed, contemporary private offices, shared workspaces and meeting rooms with a focus on attention to detail. Coworking Explained: What Is It And Why Should You Start? Clockwise Commercial Quay is their 4th development under this brand and the Client was keen to push the design to new and higher standards whilst maintaining a viable budget. This focus on cheap as a byword for value, The last time Mike visited New York (before Covid-19, of course), he decided to stop somewhere he hadnt been in 15 years: the New York Public Library. His experience will be instrumental as Castleforge looks to expand its reach across the German commercial market, with further purchases to be announced over the next 18 months. The real estate investor has bought the 68,000 sq ft office building, located on Dickinson Street in Manchester, from German fund manager Patrizia for an undisclosed sum. The occupational cost of this would have been ~45,000 versus ~55,000 per year in Clockwise, a 20% saving for the tenant, while the initial rent free provided by us would have covered their fit out cost, keeping the overall capital cost the same over the three years in a demonstrably better building in a core CBD location. What are the benefits of a serviced office rental? With the understanding that innovation and enterprise is not limited to Central London or gateway cities, and a real estate strategy that reflects this, Clockwise is well placed to support regional SMEs achieve their potential. Our readers will know that we have been covering the WeWork story for a number of years now and that we have been sceptical, at least to the extent that WeWorks business model was a poor bargain for landlords and likely obscured a reduction in net absorption in central London, Over the past 20 years, the UK property industry has seen a substantial rise in construction costs. Will Influencers Be The New Recruiters In The Future Of Work? Until the fourteenth century, silk was mainly imported from Asia. M&E engineer: Lehding Services Design. 22/02/2023 5 min read Building value by improving the connection between people and real estate | Founded in 2010, we are a leading UK-based private real estate investor that combines research-led investment themes with vertical integration and in-house operating platforms. Through focusing on Clockwise we have made a number of observations that we would not have seen without this experience, and we felt it would be valuable to share some of these with you. Cons. Over the last few quarters, borrowing costs have surged, and liquidity has started to evaporate. An office to call their own, great for an SME who needs to work at pace and express their company culture. You can unsubscribe or manage your preferences at any time. We draw on insights from economists, historians, and urbanists to try to understand why some places thrive, why other places flounder, and why the fates of particular places evolve over time. When you factor in that borrowing margins and the bank risk-free rate are both lower, the degree of positive leverage for serviced offices on the continent begins to look much superior to that achievable in the UK regional markets. This first iteration of our Positive Impact Strategy details our pledge for the future and as our business grows, so will our approach. The first phase, completed in July 2020 created over 35k sq/ft of flexible office space in Leith, one of Edinburghs busiest commercial districts. We invest in real estate located in and around select UK and European cities. Filing history for CLOCKWISE RIVER LIMITED (NI654331) People for CLOCKWISE RIVER LIMITED (NI654331) Charges for CLOCKWISE RIVER LIMITED (NI654331) More for CLOCKWISE RIVER LIMITED (NI654331) Registered office address 48 - 60 High Street, Belfast, United Kingdom, BT1 2BE . It has now begun acquiring new premises,. Clients: Castleforge Partners, Clockwise. While this would make this years cost for the project team higher, they would be able to quickly eliminate costs associated with the team should that project ever be cut. LOCATION Mountbatten House, 1 Grosvenor Square, Southampton, SO15 2JU. U.K. Planning System Pitfalls and Opportunities. We invest in real estate located in and around select UK and European cities. STATUS Completed. LONDON-based property investment firm Castleforge Partners has appointed Christian Lerche to head its asset management in mainland Europe and to support further European growth, following its recent expansion into the German commercial market. Through our flexible workspace provider Clockwise, we are very well positioned to offer this type of bespoke service to our members.. For those who want to drop in and drop out, this is their office for the day. We are thrilled to be contributing to these vibrant professional communities in every corner of the country. The works achieved practical completion in April 2021, on time and on budget . This year we opened our first building in London, Wood Green with a second planned in Bromley. Castleforge Partners Ltd. Castleforge Partners Limited operates as a real estate investment firm. When you prefer some privacy or crave a space to call your own, dedicated private . It may therefore not come as a surprise that due to our experience with Clockwise, weve updated the way we think about how we lease smaller floorplates (below ~5,000 square feet). The investor is . Help? InSection 1, we sketch, Economic historians tell us that the Black Death helped birth the domestic silk industry in Europe. ft. of serviced office space operated by Clockwise. Approach; Culture; Impact; Insights; Contact; Investor Login CEO Approval. Our initial involvement with River House was in undertaking a pre-acquisition survey with input from our M&E engineers which included a reinstatement cost assessment.Following our client's purchase of the building, we were instructed to act as project manager on the refurbishment of the 80,000 sq ft property to provide a mixture of co-working space and private offices. Through our flexible workspace provider Clockwise, we are very well positioned to offer this type of bespoke service to our members.. Initially, they asked for a small discount of 5-10% in return for signing up to a two- or three-year term rather than the standard month-to-month contract that we offer. Instead, we offered them space in our other building at 58 Waterloo Street nearby on a three-year lease. The real estate firm announced the purchase of Linley House on Friday, with the 68,000sq ft Dickinson Street site estimated to hold a gross development value of over 30m. We use cookies to offer you a better browsing experience, personalise content and ads, to provide social media features and to analyse our traffic. Company status Moving forward, for many companies flexibility is going to be key when it comes to office space leases. Clockwise Castleforge Partners is a successful private real estate investment firm that has invested over 500 million in asset value throughout the UK since 2010. Our collective knowledge and experience, including input from development management, asset management and operations, is brought to bear in each investment decision. Please enter your username or email address to reset your password. It was founded in 2010 by Brandon Hollihan and Michael Kovacs. Sustainability is ingrained in our corporate vision and values, our culture, and everyday actions.

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