US private equity firm The Carlyle Group, which moved into London’s flexible office sector last year, has added The Crosspoint building to its portfolio.
Carlyle has acquired the 41,000sqft nine-storey office building on Liverpool Street from Amsprop, a property company owned by British business magnate Alan Sugar.
Carlyle said capital for this investment came from investment funds that it advises. No further financial details were disclosed.
The alternative asset manager said this investment adds to the Uncommon flexible office and co-working business that it launched in June last year with Adir Group.
At the launch, Carlyle said it will continue to expand the business over the next 18 to 24 months by buying assets in London locations with strong transport connections.
The Crosspoint building is to be rebranded as Uncommon Liverpool Street, with an opening expected later this year.
Liverpool Street will be Uncommon’s fourth and largest flexible workplace facility in London, adding 850 workstations to the existing 1500-desk portfolio. The other assets are located in Islington, Borough and Fulham.
Peter Stoll, the managing director at The Carlyle Group, said: “Crosspoint is a superb addition to Uncommon which will dramatically raise the profile of the business and improve its London footprint.
“The incredible connectivity sits comfortably in the context of growing and changing work-life patterns in London.”
Chris Davies, a director at Adir Group, said: “It’s a superb asset that matches our exact requirements and adds another flag on the London map for Uncommon.
“We will create a unique and creative environment, moments from a major transport hub, for our members to work and enjoy, while we support them in every way. We look forward to adding additional freehold sites to the portfolio over the coming months.”
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