Real estate investment manager TSP has sold 30 Lighterman, an office in King's Cross, to a private investor for £17 mln (€19 mln).
30 Lighterman is a 100-year old 15,000 ft2 (1,400 m2) Victorian warehouse, which has transformed into a sustainable commercial office space. The property is rated BREEAM Excellent for its environmental credentials and achieved carbon neutral status.
TSP acquired the asset in 2019 for £12 mln with the aim of creating a smart, proptech 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.
TSP’s portfolio includes 16 Laystall Street, a warehouse refurbished into commercial offices in Clerkenwell; Little London, a restoration of a 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.
