F15 Partnership

Squarestone’s first transaction consisted of a joint venture, including a 640 unit housing estate in Lakenheath Suffolk and a 14—acre derelict, industrial site in Leeds.

The houses were leased to the US Air Force and following three years of negotiation, we agreed a new lease on 570 units and immediately sold the property. We sold the remaining 70 houses into the open market. We then secured planning permission for 120 residential units on the industrial site and consequently sold it in 2006.

Squarestone Central London LP

In early 2003, anticipating a strengthening office market, we raised a five-year investment fund from a pool of high net worth investors and family office groups. This vehicle had a discretionary mandate to invest in West End and City of London office buildings.

During 2004 and 2005, we acquired a portfolio of six offices, with three in the City and three in the West End. A combination of market conditions and our highly active asset management programme quickly added significant value. Our initiatives included successful planning applications, extensive refurbishment, existing tenant negotiations and leasing.

We recognised that the portfolio contained significant value increases and so elected to liquidate the assets throughout 2006-7, prior to the 2008 global financial crisis.

Squarestone Atlantic Regeneration

We established SAR to deliver residential properties in Porto along the banks of the river Douro. We acquired three development sites and completed our high quality Destilaria property consisting of 45 residential units. We held and leased this building during the Portuguese economic crisis and are now in a good position to sell the apartments as the economy recovers and consider development of the land we own.

Squarestone Brasil

In early 2007, we started looking at the Brazilian market, due to the strong economic growth and increased economic stability witnessed in Brazil in recent years.  After several months of research, we elected to invest in the retail sector, due to the growth of the middle class and the under-provision of retail facilities.

In 2008, we acquired two shopping mall projects in greater São Paulo. Bonsucesso Shopping, Guarulhos was a 15,000 sqm standing investment, which we enlarged to 24,000 sqm and completely repositioned it towards its middle class catchment area. This asset was sold to a large Brazilian Shopping mall investor in 2011.

We redeveloped Golden Square, Sao Bernardo in a joint venture with Ivanhoe Cambridge and delivered a state of the art, upmarket mall of 29,000 sqm. This asset was completed in 2013 and we have now sold our ownership to our partner.

HUB Residential Limited

In 2011, we recognised that London suffered from a very significant shortage in the supply of new residential accommodation. In conjunction with this, the majority of investment capital was targeting the prime and super-prime markets. We created HUB to be entirely focussed on the mid-market, delivering apartments in emerging locations with strong transport links. At present, there is a bias towards areas which will benefit from the arrival of the new Crossrail infrastructure in 2018 and beyond. By the end of 2016, HUB had acquired seven significant projects across London and over 1,700 units in its pipeline, totalling an end value of over £700m.

HUB has built a highly experienced, full service development management team and is now in a position to invest and develop in this market for the long-term.

Squarestone Growth LLP (SGLLP)

In 2014, we recognised that there was significant value growth potential in selected UK regional markets. We therefore established Squarestone Growth LLP (SGLLP) to assemble a high yield commercial portfolio, requiring vigorous asset management. To date, the portfolio consists of fourteen assets including nine office and five industrial properties.

The first acquisition was made in June 2015 and SGLLP currently has over £60m of assets, with a target portfolio capacity of over £200m.