Europe
06
Oct '21
Press release

hClub, London

Continued confidence in London with the acquisition of hClub

Known as the hClub, 24 Endell Street in London’s Borough of Camden has recently been acquired by the Munich-based family office AM ALPHA, specializing in joint real estate investments with private and institutional investors, on behalf of WE-Holding.

The property is located in Covent Garden, the cultural heart of London and well known as one of the capital’s premier submarkets and the home to a wide variety of office occupiers from the media and creative sectors through to major financial institutions.

Transport communications are excellent with Covent Garden Underground Station and the new Elizabeth line hub at Tottenham Court Road Station all within 10 minutes walking distance. These stations serve the Piccadilly Line, Central Line, Northern Line and the Elizabeth Line, providing easy access to the rest of London. 

Previously used as a private members club the building boasts a TV and music recording studio in the two lower ground floors. Whilst the studio will be retained, the former private member’s club will be converted to Grade A office space that will be used as the new UK headquarters of PATRIZIA, a global real asset investment manager.

Acting on behalf of the German family office WE-Holding, AM ALPHA was able to identify and secure this exciting opportunity thanks to its close monitoring of the London real estate market. Following substantial modernization and refurbishment works, the asset will provide cutting-edge technological solutions and be a showcase of the office of the future. This meant the acquisition and due diligence processes focused on ensuring that these ambitious requirements were met. 
This acquisition again demonstrates AM ALPHA’s capacity in the UK market and its commitment to London, believing in the strength of the market even in challenging times after Brexit and Covid-19. 24, Endell Street joins other assets in the UK (in London, Manchester and Glasgow) within AM ALPHA’s current portfolio. 

According to Martin Lemke, Managing Director at AM ALPHA, “The successful completion of this transaction is further evidence of AM ALPHA’s execution capabilities and ability to source robust real estate opportunities. Within Europe, the UK will continue to be a main focus for us, and we will actively seek core and value-oriented investments across all sectors.” 

AM ALPHA was advised on the purchase by the law firm CMS, tax and finance advisors Grant Thornton, and technical advisor Paragon. 

 

AM ALPHA is a Munich based privately owned real estate family office that focuses on global investments in prime real estate on its own account and in collaboration with family offices, private clients and endowments in Europe and Asia. The company is represented in Europe in all major real estate markets with its own offices. Its Asian operations are headquartered in Singapore, with offices in the gateway cities in the Asia Pacific region. AM ALPHA has also received all necessary licenses from German regulator BaFin acting as a German regulated capital management company (Kapitalverwaltungsgesellschaft – KVG) and Alternative Investment Fund Manager (AIFM). The real estate firm is currently managing a substantial Asia Pacific and European portfolio.

 

Press contact

Andreas Menke
Phone: +49 89 550 6989 - 00
E-Mail: press@am-alpha.com