PATRIZIA opens doors to new international hub in London’s Covent Garden

by   CIJ News iDesk III
2024-07-09   07:28
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PATRIZIA has opened the doors to its new international hub in London’s Covent Garden which will play a central role in driving the future growth of the company’s global investment platform. At the same time, the opening of PATRIZIA’s landmark office marks the kick-off of the international fundraising programme of the PATRIZIA Foundation, which has officially launched in the UK to expand its global impact in its 25th anniversary year.

Located on Endell Street, PATRIZIA’s new international hub is the group’s largest global office location outside of its Germany-based headquarters, providing clients with combined real estate and infrastructure investment solutions, as well as its technology arm, under one roof. It brings together PATRIZIA’s 200 UK-based employees who manage and support a number of the group’s flagship international funds across the real estate, infrastructure and venture capital sectors.

The London team manages a significant portion of PATRIZIA’s EUR 57 billion of global assets under management and leads many of its discretionary investment strategies. The group’s London office oversees a diverse international real assets platform, spanning value-add and core real estate strategies as well as mid-market infrastructure equity and infrastructure debt funds.

Wolfgang Egger, Founder of PATRIZIA, said: “After nearly three years of thorough planning and designing, we are thrilled to open the doors to our new international hub in the heart of one of the world’s most influential cities for global capital. The PATRIZIA story is a 40-year journey of constant innovation and evolution to ensure we continue meeting the needs of our global clients. Today we are entering the next chapter of our development, as our new Endell Street office symbolises our successful transition into a truly global manager for smart real asset solutions.

“From day one, our vision was to create an ‘office of the future’ that embodies our independent mindset, our entrepreneurial spirit and our passion for making an impact. Endell Street is the realisation of this vision, bringing together PATRIZIA’s global investment platform and the PATRIZIA Foundation under one roof as an attractive multi-use destination for our employees and partners.”

Creating the office of the future

PATRIZIA’s Real Estate Development and Asset Management teams delivered an extensive brown-to-green refurbishment of the existing Victorian building, which was originally a hospital in the 18th century and more recently the former hClub private members’ club. The c.3-year development programme comprised a comprehensive planning process in the sensitive conservation area of the London Borough of Camden, major façade and internal structural interventions, and full fit-out of five floors spanning c.48,000 sq. ft in total, with one of central London’s largest film studios retained as part of the development.

During construction, over 98% of all onsite waste was recycled and the re-use of existing materials has reduced the embodied carbon of the building. The enhanced sustainability credentials of the building were the highest that could be achieved due to its age, with an EPC B rating alongside BREEAM Excellent and WiredScore Gold certifications.

Working with lead architect Buckley Gray Yeoman and interior design studio BGY ID, PATRIZIA has fully modernised the building to embody its ‘NewWork’ concept and vision of the office of the future. Employees and occupiers benefit from a range of facilities, including a ground floor café, gym, family room, contemplation room, conference room, bar and restaurant, landscaped roof terrace, private client lounge and end of journey facilities on the ground floor. The building features smart technology, concierge and hospitality services, health and wellness amenities, art and flexible workspaces throughout to introduce a best-in-class Grade A office in the heart of central London.

In collaboration with the PAT Art Lab, a social enterprise promoting the impact of art in public spaces, PATRIZIA has partnered with seven prominent street artists to create bespoke pieces of work for Endell Street, which includes murals from Remi Rough, Ben Eine, Unify, Pref, MADC, Art + Believe and Soda.

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