Global alternative asset manager The Carlyle Group has acquired The Crosspoint building on Liverpool Street in London from Lord Sugar's real estate empire Amsprop in an off-market transaction.
The investment, whose details were not disclosed, adds to the Uncommon flexible office and co-working business that Carlyle and the Adir Group launched in June 2017.
Capital for the acquisition came from funds advised by Carlyle.
The building is to be rebranded ‘Uncommon Liverpool Street’, with an opening expected later this year. The 41,000 sq ft (3,800 m2) nine-storey office benefits from 360 degree views over the City skyline including two roof terrace gardens.
Adjacent to Liverpool Street station, the site offers excellent access to the London underground, mainline railway services and, from 2019, the new Elizabeth Line Crossrail station.
Liverpool Street will be Uncommon’s fourth and largest flexible workplace facility in London, adding 850 workstations to the existing 1500-desk portfolio, which comprises operational assets in Islington and Borough, as well as a 26,000 sq ft facility in Fulham that is scheduled to open this summer.
Carlyle and the Adir team said that they aim to expand Uncommon further across London, targeting locations with strong transport connections.
Peter Stoll, managing director at The Carlyle Group, commented: 'Crosspoint is a superb addition to Uncommon which will dramatically raise the profile of the business and improve its London footprint. From a property standpoint it is a brand new grade A office building with flexible floorplates, a lot of natural light, some spectacular common areas and terraces which fit perfectly into the exacting requirements for design that defines Uncommon. The incredible connectivity sits comfortably in the context of growing and changing work-life patterns in London.'
