Flexible workspace provider Clockwise will manage the sites to "deliver a positive experience for occupants and attractive returns for its investors". To find out more about Clockwise, visithttps://work-clockwise.co.uk/. A party of leading commercial property agents have come to Liverpool to see what the city offers to potential occupiers. This site uses cookies. Support new businesses to thrive and create positive socio-economic impact in our local communities. Nice offices and a relaxed approach to office working. We argued that a refreshed and better designed Regus was what numerous companies were looking for in order to provide flexibility as well as quality accommodation, and that moreover, they were going to be focused on the then-secondary London locations like Southwark, Clerkenwell and Shoreditch (we actually still have a copy of this paper to prove that we arent making it up!). We expect to continue the strategy of providing a turnkey solution, and we are finding that were not the only ones. PHONE. Lerche brings 20 years of experience in the real estate sector, leading value-added asset management for a range of private equity and international [] Dentons Europe served as legal advisor for Castleforge Partners while Drees & Sommer were mandated as technical advisors. M2 1DH, We use cookies to provide you with a great experience and to help our site run effectively. 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. If you continue to use this site we will assume that you are happy with it. With recent political movements drawing greater attention to the potential impacts of human activity on climate change and governments coming together to discuss ways to reduce and mitigate these impacts, it is no surprise that ESG issues are at the forefront of the minds of stakeholders in the property industry. Castleforge Partners has acquired four offices across England worth a GDV of more than 175m. The Heal's Building 22-24 Torrington Place London WC1E 7HJ +44 (0)207 637 4335. Strive towards zero waste and use of sustainable materials, by embedding circular economy principles into the way we design, operate and maintain our spaces. As landlords, this ability to provide both traditional leases and flexible space in the same building has served us very well, and sure enough this same tenants interest was piqued, and they are seeing what It captures our four key goals Climate Change, Circular Economy, Health & Wellbeing and Socio-Economic Impact and details a roadmap for achieving them. For more information visit www.castleforgepartners.com. Castleforge, a vertically integrated, operationally focused private equity real estate manager targeting the UK and select European cities, today anno. Castleforge Partners has invested . London-based property investment firm Castleforge has announced the acquisition of five multi-let office buildings on the historic Koninginnegracht in The Hague as part of its first expansion into the Netherlands property market. Why should property investors consider Leith? 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. Airbnb pulled millions of new suppliers into the market, and pricing algorithms, As weve discussed before, the office has changed a great deal in the last quarter-century. Marginal fit out costs and exit yields must be considered in the round as well, but we have calculated that the increase in net effective rent more than compensated for either of these increases. 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 . We provide spaces for the local community and key workers. commercial space Michael Riordan Managing Director, United Kingdom United Kingdom See All Contacts Contact Representative Back to all projects Rapid Work Style Shifts Are Tanking Tax Revenues Can City Planners Catch Up? These tenants are not equipped to become temporary real estate experts by finding and negotiating with a contractor and architect to fit out their office space. Castleforge has been repurposing parts of its existing UK portfolio as serviced space since 2018. Castleforge Partners' Clockwise at Edward Pavilion in Liverpool was awarded the Mixology North Award for Commercial Interiors Project of the Year over 30,000sq.ft. Our research shows that many of the. From modest beginnings in Glasgow, we currently . Since launching in 2017 we've made it our business to anticipate the needs of our members and their companies from day one. And as he walked into the buildingthen named after the man who the last, A recurring theme when we here at Castleforge attempt to prognosticate over the central London office investment market is that it is very hard to predict the trajectory of cap rates. The firm has identified a clear investment opportunity in so-called 'secondary cities' across the country and will look to expand its reach across the German commercial market, with further purchases to be announced over the next 18 months. It is therefore often helpful to draw parallels to previous market cycles as a way to help us understand what may be happening now. 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. 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. Castleforge Partners' flexible workspace provider Clockwise will operate part of the building which is 67% occupied. Clockwise is headed up by COO, Alexandra Brunner. To find out more, read our cookie policy. 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. The heritage project will now serve as Castleforge's official headquarters, with additional space for its flexible workspace provider, Clockwise, making room for over 60 employees. We invest in real estate located in and around select UK and European cities. Data 70,000sq.ft. Undertake carbon footprint analysis of our business operations, Take action to become a certified carbon neutral business in 2022, Buildings designed to be net zero operational carbon by 2025, Work towards being a carbon positive business by 2030, Continue to refurbish and add value to run-down buildings, Measure and report on our waste generation and recycling, Design spaces that are adaptable and use sustainable materials, Seek to maximise reuse and recycling of any waste, Significantly reduce the use of single-use plastics, Trial the WELL Building Standard on one of our new offices, Provide bike storage, showers and lockers, Provide healthy and sustainably sourced catering, Provide access to health and wellbeing support services for colleagues and members, Investigate options to support businesses in their infancy, Seek to procure products and services from local, independent and sustainable businesses, Employ a diverse workforce and provide employment opportunities, Support our colleagues to volunteer their time on meaningful initiatives. Further launches for 2021 include Manchester, Exeter, Bristol and Southampton, as well as the opening of our first space in mainland Europe, Clockwise Brussels. The first phase, completed in July 2020 created over 35k sq/ft of flexible office space in Leith, one of Edinburghs busiest commercial districts. Though weve grown, weve maintained that spirit which allows us to be thoughtful, rigorous and innovative in our approach. Our vision is for a future in which every work environment and experience has a positive impact for people, places and the planet. Architects Cartwright Pickard will oversee the repurposing on behalf of Castleforge Partners, a UK-based private real estate investor. NAME. Ahead of the purchase, Castleforge identified Bremen as an ideal location for its first German acquisition in light of the citys strong local economy, renowned universities, and expanding base of start-up businesses. We act as a trusted real estate investment partner to provide consistent returns while making a positive impact in the communities in which we invest. The firm has invested in the property which offers office accommodation across four category A listed buildings. We provide flexible workspaces with all the functionality, simplicity and service, community and connectivity you need to make it happen. 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. Manchester Hawkins\Brown. Even considering these advantages, we are careful about where and how we use Clockwise to ensure each new location is designed and managed to achieve its full potential. Lerche brings20 years of experience in the real estate sector, leading value-added asset management for a range of private equity and international institutional investors, and working closely with stakeholders to steer and reposition portfolios. Despite Layoffs, Jobless Claims Fell Again Last Week, Bidens New Cybersecurity Strategy Puts Responsibility On Tech Firms, Judge Rules That Starbucks Violated Labor Law. This included a 32K SF Liverpool outlet opened in 2019. Our vision is for a future in which every work environment and experience has a positive impact for people, places and the planet. Spaces that are perfect for a discussion with your board or a workshop with the whiteboard. 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). 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, The London-focused office REIT Great Portland Estates (GPE) recently made an announcement that caught our attention. Castleforge Partners has acquired four UK sites for a 175m (192m) office development. Copyright 2023 All Rights Reserved PMP | Registered Address: 115 George Street, Edinburgh, EH2 4JN | Registered Company Scotland SC395242. 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. Thus, the flexibility of being able to scale up and down on space is helpful but not essential. The article stated that Londons occupiers have vacated the greatest amount of, History never repeats itself exactly, but we often experience echoes of history where the characters are the same, even if the actors change. Whether youre flying solo, starting up, growing steadily, scaling rapidly or spinning out something new. To read the digital edition of the latestIPE Real Assets magazineclickhere. 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. The 5,000 sq m Martinistrasse building is currently at 63 per cent occupancy, and was acquired in an off market deal. Most Popular Yorkshire workplace introduces four-day working week with same pay - but staff. Whether you need to meet face to face, log on or do it all at once, all Clockwise buildings have meeting rooms that come fully equipped with tech to create a seamless experience across the physical and virtual. 20-strong delegation from Property Agents Independent attended launch of 70,000 sq ft office scheme at Edward Pavilion in Liverpool's historic Royal Albert Dock. Should You Put Your Job On AI-Pilot Mode? A hot-desk for the freelancer, satellite worker or lone wolf who needs space to focus and fire up their next project. 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. By continuing to use this website you are giving consent to cookies being used. Jenny Emslie, founder and managing director at Sunshine Communications, said: "Commercial Quay is an ideal fit for us. CEO Approval. Cons. Moving forward, for many companies flexibility is going to be key when it comes to office space leases. We use cookies to ensure that we give you the best experience on our website. Rachael Pittaway is a director at Castleforge Partners, the real estate investment firm behind Clockwise Offices. E&Y has already gone from zero flexible office space to 10% of their portfolio in the past two years alone, but understands that in order to be agile and efficient with the use of space they will need to triple the amount of flexibility they currently have. Clockwise is owned by private equity real estate investment firm Castleforge, which owns and operates its spaces across the UK. To receive priority invites and tips on how to communicate purpose please add your email. Through our flexible workspace provider Clockwise, we are very well positioned to offer this type of bespoke service to our members.. It was founded in 2010 by Brandon Hollihan and Michael Kovacs. The investment comes after Castleforge's research team identified Exeter as having one of the fastest growing city economies in the UK. Coworking Explained: What Is It And Why Should You Start? 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. About Clockwise. It causes us some amused frustration that many brokers in our industry dont spend much time on a day-to-day, On a recent trip to Berlin to meet with the buyer of 160 Aldersgate (a Germany-based fund), Mike and our colleague Martin were walking around the Alexa shopping centre in Mitte. Completion date: 2022. Suddenly, Martin stopped and turned to Mike, remarking with some surprise even the adverts are all in English! Of, Recently, you might have heard us discuss how we think that leasing agents are significantly less incentivised at the individual level here in the UK than they are in many other real estate markets around the globe. The value of the deal was undisclosed. Whether you need to meet face to face, dial in, log on or do it all at once. Help? PROPERTY investment firm Castleforge Partners today (November 13) announced the acquisition of Broadwalk House, a corporate office building in Southernhay Gardens, Exeter. With 20 years of experience in the German real estate market, Christians knowledge of the sector will become invaluable to us as we continue to evolve and manage our commercial portfolio across Europe., Commenting on his new role, Christian Lerche added: Castleforges deep understanding of the commercial real estate market makes it uniquely placed for further expansion across Europe and specifically Germany. 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. For the individual entrepreneur or start-up team who want a reserved spot to dive into deep work and space to collaborate. Our experience has shown us that most smaller and medium-sized enterprises, especially in UK regional cities, are not tech and software businesses that grow from two to 200 employees overnight. The works achieved practical completion in April 2021, on time and on budget . Clockwise Offices is set to open a 354-desk, 25,000 sq ft new serviced workspace in Leith, known as Clockwise Commercial Quay. Property investment firm Castleforge has acquired a large corporate office building in the centre of Manchester. The biggest challenge presented was that the existing M&E and legacy issues were not compliant with current regulations, resulting in exploratory works and a complete strip out of the service installations. At Castleforge we foster an environment that encourages continued learning and development of each member of staff. 100% FREE. 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 . Since the referendum vote in mid-2016, we have maintained an analysis of the dynamics of supply and demand in select European cities, since we believed that some could one day become competitors for the universe of UK tenants who need to remain within the EU.
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