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 . With the investment, Castleforge plans to create flexible workspace through its provider, Clockwise. We use cookies to ensure that we give you the best experience on our website. A hot-desk for the freelancer, satellite worker or lone wolf who needs space to focus and fire up their next project. A lot had changed since his last visit there. 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. How Africas Economy will Harness Digital Tech in the Future of Work, Flexible Work and Investment in ESG are Driving Profitability for this Global Brand. Castleforge Partners Ltd. Castleforge Partners Limited operates as a real estate investment firm. Many have the same number of employees that they did a few years ago, and even if they are growing, it is not at an exponential pace. CastleForge Partners. PROPERTY investment firm Castleforge Partners has announced the acquisition of its first office building in Germany, in the historic old town of Bremen.. 3 Steps To Build A Three-Dimensional Hybrid Workplace, Peter Miscovich JLL Global Future Of Work Leader | The Hybrid Workplace Evolution: Unlocking The Future Of Work, AI Is Transforming The Future Of Industrial Work, Reimagining Offices for Hybrid Work: Frameable.com CEO on the Future of Virtual Offices. Following the success of our flexible workspace provider Clockwise in locations across the UK, we are now looking forward to refurbishing the building and saying Willkommen to our first Clockwise members in Bremen., Castleforge Partners was advised on the acquisition by IC Immobilien Gruppe. 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. Based in Germany, Lerche joins Castleforge fromCapitaLand International where he was Director of Portfolio Management. 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. 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 strive always to be at the forefront of change, developing in-house capabilities and a thoughtful view on the world that together create a sustainable competitive advantage. Nice offices and a relaxed approach to office working. Sectors Learn more about the core sectors in which we work, each with a unique set of challenges that we account for in our approach. Affordable housing Europe: Should investors be part of the solution? What are the benefits of a serviced office rental? You consent to our cookies if you continue to use this website. PROPERTY investment firm Castleforge Partners has announced the acquisition of its first office building in Germany, in the historic old town of Bremen. Bremen has a thriving economy, with a generation of young professionals and start-ups who are increasingly seeking flexible-office models as opposed to the usual traditional offering. For the individual entrepreneur or start-up team who want a reserved spot to dive into deep work and space to collaborate. Castleforge has purchased Yorkshire House in Leeds, Linley House in Manchester, Broadwalk House in Exeter, and Mountbatten House in Southampton. 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. CEO Approval. The firm, which closed its most recent real estate fund at over 270 million, has gained a reputation for investing in office property in undersupplied markets across the UK. Since 2000, construction costs have outstripped inflation by nearly two times. We use cookies on the site to improve your experience. We offer high-quality affordable multi-family housing. 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. Fantastic to see this landmark heritage building given a new lease of life. 2022 Allwork.Space l Exploring the FUTURE OF WORK since 2003. The Heal's Building 22-24 Torrington Place London WC1E 7HJ +44 (0)207 637 4335. 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. The clock reset to 20 seconds and Scherzer was already in the stretch. It has now begun acquiring new premises,. We strive always to be at the forefront of change, developing in-house capabilities and a thoughtful view on the world that together create a sustainable competitive advantage. Brandon Hollihan, Founding Partner of Castleforge Partners said, We are thrilled to announce our first acquisition in Germany as we look to invest significantly in more secondary cities across the country over the next 18 months. 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. Over the last few quarters, borrowing costs have surged, and liquidity has started to evaporate. Project manager / cost consultant: Quartz. Whether youre expanding your team or chasing your dream. 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. Rethinking Retirement Plans Is Phased Retirement The Future? 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 . 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Perfect for the far-away worker who needs a remote set up thats the real deal. As part of this engagement, Castleforge is implementing systems to monitor, measure and report sustainability performance to better understand and improve the environmental performance of assets. Reducing the Carbon Footprint of New Developments. VISIT CLOCKWISE Mid-market Residential Management Professional, responsive, corporate landlord enhancing the tenant experience Standardised, high quality product Modern units rented at affordable levels Increased operating and management efficiencies Locations around key employment hubs in undersupplied locations VISIT OCASA London property investment firm Castleforge Partners has acquired the 97-bedroom hotel for an undisclosed sum. Well make sure everything works, so they can do their best work. It is the third major hotel investment made by Castleforge this year, following deals . Clockwise Brochure. 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. Rents have remained relatively stable in relation to wages in recent years. Castleforge Partners has acquired four offices across England worth a GDV of more than 175m. A Returning Opportunity in the London Office Market? Manchester LOCATION Mountbatten House, 1 Grosvenor Square, Southampton, SO15 2JU. 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). For example, Mike led the discussion that saw 160 Aldersgate leased to DLA, We recently read with some amusement and amazement an article in a UK property industry magazine, using research contributed by a UK property company, about a new way we should all be looking at office demand: net absorption. To date Castleforge Partners has invested over 500 million of asset value throughout the UK and generated average returns in excess of underwritten . The Clockwise Positive Impact Strategy 2021 is based on our biggest environmental impacts, our values, and our opportunity to influence. Flexible workspace provider Clockwise will manage the four new sites, located in secondary cities across England. 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. Castleforge Partners has invested over 500 million of asset value in the UK since its formation in 2010. Property investment firm Castleforge has acquired a large corporate office building in the centre of Manchester. For Media Enquiries, please contact: castleforge@higginsonstrategy.com +44 (0)786 605 1626. Castleforge, a vertically integrated, operationally focused private equity real estate manager targeting the UK and select European cities, today anno. . U.K. Planning System Pitfalls and Opportunities. Spaces that are perfect for a discussion with your board or a workshop with the whiteboard. Since launching in 2017 weve made it our business to anticipate the needs of our members and their companies from day one. 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. Linesight has been providing full cost consultancy services on the . Lerchesappointment follows Castleforges recentacquisition of its first office building in Germany, in the historic old town of Bremen. EMAIL. 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. We are not alone in discovering that, given the choice, tenants typically prefer more flexibility around office size and more convenience of having a pre-fitted office space. Clockwise is owned by private equity real estate investment firm Castleforge, which owns and operates its spaces across the UK. With extensive experience in hospitality and real estate, she is perfectly positioned to lead the business through this . An office to call their own, great for an SME who needs to work at pace and express their company culture. At the heart of Southampton's Business District, this prominent office building boasts occupiers such as Savills, Mott MacDonald, Norweigen Cruise Line Group, Benefex, Hays, Clockwise, Rubix Business System, VOA, Health Care Resourcing Group and Ocean Network Express. We invest in real estate located in and around select UK and European cities. The Firm invests in the commercial, residential, retail, industrial, and hospitality sectors . We provide spaces for the local community and key workers. Clockwise provides contemporary private offices, shared workspace and meeting rooms with flexible membership plans in key business locations. ft. of serviced office space operated by Clockwise. Flexible workspace provider Clockwise will manage the sites to "deliver a positive experience for occupants and attractive returns for its investors". They told us that while they do have space already around the area, this was for a specific project team. Manchester What Does a Serviced Office Correction Look Like? About Clockwise. We have recently opened our second Clockwise location in Belfast and will open our third location in Liverpool in Q1 2019, which both comprise a combination of Clockwise serviced office and traditional space to lease on longer terms. Fora Landlord Castleforge Partners bought the development in Edinburgh's popular Leith shore area late last year. Can A.I. We are thrilled to be contributing to these vibrant professional communities in every corner of the country. 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. Our vision is for a future in which every work environment and experience has a positive impact for people, places and the planet. Castleforge said the investment comes as the company 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. A party of leading commercial property agents have come to Liverpool to see what the city offers to potential occupiers. Here,, At Castleforge we foster an environment that encourages continued learning and development of each member of staff. M2 1DH, We use cookies to provide you with a great experience and to help our site run effectively. Clockwise Bristol is the second Grade II listed building that the business has redeveloped following the opening of Edward Pavilion in Liverpool's Albert Dock, . A truly flexible approach and varied membership packages has attracted a client mix of entrepreneurs, start-ups, scale-ups and established businesses from a cross section of sectors. 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. 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). The building will be fully refurbished to enable the firm to introduce its flexible workspace provider, Clockwise into the space, offering an alternative to traditional fixed-term offices. Well start by laying out that narrative, since it is crucial to understanding the rise, Our 2021 white paper takes up a very basic question:why do people live where they do? Since its inception in 2010, Castleforge has invested approximately 1 billion, gaining a strong reputation for value-add investment in office and residential real estate across the UK and Europe. Sustainability is ingrained in our corporate vision and values, our culture, and everyday actions. 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. This localised approach is ideally suited to the current Covid-19 climate as more people move out of London and flexible working close to home becomes commonplace. Very hierarchical company structure and limited work life balance. 22/02/2023 5 min read Castleforge Partners's Clockwise at Edwards Pavilion has recognised at the Mixology Awards 2019 as 'Commercial Interiors Project of the Year over 30,000sq.ft.'. 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. The first phase, completed in July 2020 created over 35k sq/ft of flexible . M&E engineer: Lehding Services Design. A future in which every work environment and experience has a positive impact for people, places and the planet is a key part of the Clockwise vision. Website. November 4, 2021 | 7:03 AM. Help? 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. Located in the prime central business district, the 5,000-square-meter (53,820-square-foot) Martinistrasse building was acquired off market and is currently at 63 percent occupancy, presenting a repositioning opportunity for Castleforge. We create environments and experiences that are as personal as they are professional. We are committed to socially responsible business plans. Lerche brings 20 years of experience in the real estate sector, leading value-added asset management for a range of private equity and international [] The 5,000 sq m Martinistrasse building is currently at 63 per cent occupancy, and was acquired in an off market deal. Proactively support the UKs levelling up agenda and help reduce inequalities. 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. Brandon Hollihan, Founding Partner of Castleforge Partners said: We are thrilled to welcome Christian during this exciting period of growth for Castleforge. Would you like to read more? 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. Start by Keeping It Simple, Fun, and Consistent, 5 Pros Share How To Use Instagram To Grow Your Coworking Business, Want To Wow Coworking Members? 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. We provide flexible workspaces with all the functionality, simplicity and service, community and connectivity you need to make it happen. Castleforge Partners, based in London, has acquired an office building in the town of Bremen, which it says is an "ideal" location for its first German acquisition. The off-market transaction was arranged by Eastdill Secured. Lower commitment - from monthly rolling contracts, All inclusive one fee covers everything, Spaces designed for collaboration, opportunity to connect with members, Longer commitment - leases lasting an average of three years, Running costs and utilities paid separately, multiple suppliers and management required, Independent working with little-to-no shared space, Independent mavericks, start-ups, scale-ups and steady ships, Established businesses, satellite offices, scale-ups and start-ups, Large companies who need to bring their people together. Castleforge | 2,514 followers on LinkedIn. It has occurred to us that planning risk, Whilst there may be an affordability crisis in relation to the price of housing for sale, there is not the same crisis in relation to rental prices, particularly outside of London. We also keep in mind that Clockwise is not one fits all solution, and so we are careful to select the type of buildings and locations that best suit this offering while also limiting liquidity risk on exit. City-sized Buildings Are On The Way. Belfast, 100,000 sq. Architects Cartwright Pickard will oversee the repurposing on behalf of Castleforge Partners, a UK-based private real estate investor. 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? 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. Whether your HQ is too far away or working from home is too hard to handle. Approach; Culture; Impact; Insights; Contact; Investor Login workclockwise.co.uk. Latest fund raise exceeds the235m raised by thepredecessor CFP II fund in July 2016, Tritax Big Box REIT sells three non-core UK logistics warehouses for 125m, Fundraising details for Carlyle Europe Realty are currently unknown, EQT Infrastructure VI to buy 68% stake fromSK Square andMacquarie forKRW2trn, Partnership will initially focus on developing two onshore wind projects with a combined 500MW capacity, GICs equity is part ofEDPs plan to invest 21bn into renewables by 2026, Copyright 19972023 IPE International Publishers Limited, Registered in England, Reg No. Distressed Opportunities in European Real Estate, The Winning Bookends of the Office Market, Even Bits Need a Place to Work: the Rise of the Data Centre, Why Youd Want to Live Here: Spatial Equilibria from the Industrial Revolution to the Information Age, A Tale of Two Classes: Prime Office Supply in London and Paris, Gateway Cities and the Death of Information Monopolies. 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. NAME. Status: Complete. Log in first (top right of the screen) or take a trial. 100% FREE. Sign up to our weekly round-up of plastic free stories. Recommend. This included a 32K SF Liverpool outlet opened in 2019. If economic fundamentals continue to soften, liquidity problems could turn Market Commentary Strive towards zero waste and use of sustainable materials, by embedding circular economy principles into the way we design, operate and maintain our spaces. 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 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. 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. Further, while competition amongst serviced office providers is lower than in the UK regions, and desk rates are sometimes higher than in the UK regions, the cost basis for construction is pretty similar. 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. Our research shows that many of the. D&B office fit out of Castleforge Partners, Clockwise after completing the CAT A refurbishment of River House, the largest city centre commercial refurbishment development in Belfast. Adam Riggs CEO Of Frameable | Can a Virtual Experience Really Replace the Office? This attention to detail dovetails with the services that PMP provided to deliver Clockwise Commercial Quay for Castleforge Partners. Pros. We use cookies to offer you a better browsing experience, personalise content and ads, to provide social media features and to analyse our traffic. I look forward to bringing my experience to the firm during this important time to support further growth of the business., Sign up to our weekly round-up of plastic free stories. LOCATION Leeds . ft. of CAT A space which included circa 22,000 sq. Thus, the flexibility of being able to scale up and down on space is helpful but not essential. While we monitor performance on the operational assets, we are entering design stages for our fourth and fifth locations in Bristol and London, adjusting our deployment of Clockwise accordingly. 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. Most Popular Yorkshire workplace introduces four-day working week with same pay - but staff. In this spirit, we thought we would take the next couple of pages to review what weve learned in our experiences so far with our Clockwise serviced office product. It was founded in 2010 by Brandon Hollihan and Michael Kovacs. He struck Adams out. 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: . A couple weeks ago,, As we have discussed in previous letters, over the past 20 years the UK property industry has seen a substantial rise in construction costs, which has lead to a large and sustained increase in the replacement cost of buildings. The Million Dollar-Mistake Businesses In California Cannot Afford To Make: Compliance Deadline Approaching! Our vision is for a future in which every work environment and experience has a positive impact for people, places and the planet. ESG: Dont forget physical climate risk for real estate, On the right path? 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. One example from Savoy is a 15-person recruitment business that took space in a Clockwise unit. 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. PMP provided complete property investment solutions for Castleforge through Project Management, Contract Administration, Principal Designer and Cost Management services. The firms in-house research has predicted a rise in popularity in these regions as working and living trends continue to evolve. Data 70,000sq.ft. These facilities are available to the public as well as Clockwise members and creates an additional revenue stream for the Client.. London The works achieved practical completion in April 2021, on time and on budget . A typical white box lease we had completed at 58 Waterloo Street was at 25 per square foot over half a floor with 18 months of rent abatements on a 60-month lease, equating to a net effective rent of approximately 18 per square foot. 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. Within 15 months of opening in May 2017, we were over 90% occupied on the private office space and over three times subscribed on the club membership which provides hot desking in the common lounge area. Over the last few quarters, borrowing costs have surged, and liquidity has started to evaporate. Through Clockwise, Castleforge plans to meet the increasing demand from companies in the four cities for alternatives to traditional fixed-term office space leases. Castleforge Partners was founded in 2010 by Brandon Hollihan and Michael Kovacs. To date, Castleforge Partners have invested over 500 million of asset value throughout . Since launching in 2017 we've made it our business to anticipate the needs of our members and their companies from day one. 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.