TSP Sells Award-Winning Office Space In King’s Cross For £17M

PRESS RELEASE

LONDON – January 2023 – TSP, the real estate investment manager, sold 30 Lighterman, a commercial office space in King’s Cross, to a private investor in December 2022, in a £17m transaction.

30 Lighterman is a 100-years old c.15,000 sq ft Victorian warehouse, transformed into one of London’s most sustainable commercial office spaces. 30 Lighterman is rated BREEAM Excellent for its environmental credentials and achieved carbon neutral status.

TSP acquired the asset in 2019 for £12m with the aim of creating a smart, prop-tech enabled office building, located on Wharfdale Road close to the new Google campus under construction.

TSP carried out a sustainable refurbishment which achieved BREEAM Excellent, bringing the building to an EPC B from D energy efficiency rating.

The refurbished smart workspace attracted fintech and AI companies as tenants and set new records in the local rental market for its sustainable features; these achievements were recognised at the EG Awards 2022 with the ‘Best Workplace Award’ and the ‘EG Tech Award’.

Zac Goodman, CEO and founder of TSP, said:

“30 Lighterman is testament to TSP’s latest innovative thinking and delivery in sustainable office design. The transformation of this 100-year-old building into a smart office building is proof that if you push the boundaries of sustainability and workplace experience management, there is plenty of opportunity for growth and value-add in the office market. We are keen to invest back into the market and believe that the best businesses will remain hungry for the best space in London.”

The innovations at 30 Lighterman include contactless smart access control, real-time air quality monitoring, and live meter reading feeds. By combining data streams, TSP generated a real-time dashboard of the site to manage resources and deliver an outstanding workplace experience for tenants.

Tenant wellbeing is at the centre of interior design for 30 Lighterman. The team utilised the windows and curtain walling to increase natural light exposure and integrated a fresh and light aesthetic into the finishes to maximise natural light in the workspace. The team included greenery and planter boxes in the design to soften the space and add in extra character and warmth.

TSP’s investment strategy is focussed on acquiring and transforming under-managed, often industrial assets into sustainable destinations which redefine the future of working and living. Its portfolio includes 16 Laystall Street, a warehouse refurbished into commercial offices in Clerkenwell; Little London, a restoration of an iconic former biscuit factory in Southwark and 60 Ironmonger in Old Street, the restoration of the former Christian Louboutin HQ into prime commercial office space.

TSP was advised by George Collins of GC Real Estate and Shaun Simons of Compton London in the transaction.

-ENDS-

Notes to Editors

TSP is a real estate investment business with c£1.5 billion of assets under management, which specialises in commercial and residential real estate in the UK. TSP delivers superior and consistent returns by refurbishing and transforming under-managed assets, combining operational capabilities with a progressive and sustainable investment ethos. TSP is a certified B corporation, one of the first in the UK property sector to achieve this status.