The first in a series of funds launched by a partnership between Astarte Capital Partners and Yoo Capital, a global institutional investor specialising in identifying and building best-in-class asset management businesses in the real assets space, it is one of only three UK real estate funds successfully raised and closed since 2020 and one of only 13 first-time opportunistic funds to have raised and closed globally between 2021-2023, compared to a yearly average of approximately 90 closes pre-pandemic. The firm also announced YCFII the majority of the capital was successfully committed during Covid in a series off-market investments with a gross value in excess of £1 billion of Central London real estate.

Yoo Capital has made its name in visionary community building and responsible transformation with a focus on mixed-use opportunities, most recently in creative industries and life sciences. Earlier this year the firm acquired a site in Kentish Town, London, and  shared its vision for a Camden Film Quarter. In collaboration with the London Borough of Camden, and subject to consultation, the site would create a new neighbourhood comprised of film and television studios, production spaces, as well as 50% affordable housing, public space and infrastructure to serve the local community.

Yoo Capital is also responsible for the visionary transformation of Olympia, a £1.3bn investment to reinvigorate the iconic 137-year old exhibition halls into London’s newest cultural hub which includes the rejuvenation of the iconic exhibition halls, a 4,400 capacity live music venue with AEG; the UK’s largest new theatre in 40 years managed by the renowned Sir Howard Panter’s Trafalgar Entertainment; a creative arts school, in partnership with Wetherby and The BRIT School, a Hyatt Regency and Citizen M Hotel, 20+ restaurants and bars, 550,000 sq ft of creative offices and studios, and 2.5 acres of gardens and public realm.

Yoo Capital has invested over £2.5 billion into central London since it was founded in 2010 by international property entrepreneur John Hitchcox and real estate veteran Lloyd Lee. The firm is committed to creating new spaces for London that support the arts, creative, hospitality and science-led industries and are sustainably minded to evolve and stand the test of time.

Lloyd Lee, Managing Partner at Yoo Capital, said:

“Today marks a significant milestone in our journey as we celebrate the successful close of YCFII. It is testament to the hard work and dedication of our team, the strength of our vision, and the belief of our investors in our ability to identify attractive investments that generate sustainable, long-term returns. The fact that the fund was also fully committed with the announcement of Camden Film Quarter is confirmation of that belief.”

Dr. Stavros Siokos, Managing Partner at Astarte Capital Partners, commented:

“We are pleased to confirm the final close of YCFII following strong support from our global investor base. It reflects the strength of our long-term partnership with Yoo Capital, our compelling strategic vision, and resilience of the sector.

“Our partnership brings together deep sector expertise in investing across multiple economic cycles with experienced investment managers, and we look forward to deploying the capital from YCFII in long-term real estate investments that create value for all stakeholders.”

John Hitchcox, Chairman, Yoo Capital, said: 

“Our approach to investment is guided by a deep commitment to community building and the responsible transformation of mixed-use developments. With YCFII, we will be creating places that are more than buildings, but actually build a sense of inclusive community for industry, for living and raising families and for creating opportunities for Londoners. Our recent announcement of our vision for Camden Film Quarter is a powerful example of this.”

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• The firm has acquired the Holmes Road Depot and the Regis Road Recycling Centre sites in Camden on a subject to planning basis.
• Yoo Capital will work with Camden Council and local stakeholders to create a vision for a Camden Film Quarter.
• As well as creating a new creative centre, the development will bring much-needed homes and jobs to Camden.
• Celebrating heritage and culture, fostering innovation and scientific discovery, Yoo Capital prides itself on making responsible, sustainable long-term positive impact in partnership with local communities.

18 April 2023: Yoo Capital, the real estate investment firm known for transformational mixed-use developments, is announcing its vision to bring a worldclass film quarter to Camden, London, in a move that would supercharge the UK’s creative industry. Yoo Capital has acquired the Holmes Road Depot and the Regis Road Recycling Centre in Kentish Town, Camden on a subject to planning basis and will deliver on the Kentish Town Planning Framework to create an innovative and sustainable mixed-use neighbourhood that has industrial, commercial and creative activity provided alongside high-quality new homes, 50% of which will be affordable, and infrastructure to support the local community.

Residents, local businesses and community groups will have the opportunity to shape plans for the area at every stage of the project and consultation will commence in the next month.

The creative industries have become a British success story. According to Creative UK, creative industries contribute approximately £115.9 billion to the economy per year and are growing at four times the rate of the UK economy. Yoo Capital believes that a “Camden Film Quarter” would build on this success and provide much needed space for the industry to grow in central London.

This acquisition is the third on behalf of Yoo Capital Fund II, the first in a series of UK real estate funds led by Yoo Capital and Astarte Capital Partners with a particular focus on investing into the communities and economy of London. In November 2021, Yoo Capital acquired the former Saville Theatre on Shaftesbury Avenue – a listed building that once hosted live performances by the Rolling Stones, Chuck Berry, The Who and Jimi Hendrix – and is working with key community stakeholders to return it to a live performance venue with ancillary uses. The firm is also responsible for bringing forward the vision for Olympia; a £1.3bn investment to reinvigorate the iconic 137-year old exhibition halls into London’s newest cultural hub which includes the rejuvenation of the iconic exhibition halls, a 4,400 capacity live music venue managed by AEG Presents; the largest new permanent theatre in 40 years managed by Trafalgar; a creative arts school, in partnership with Wetherby and The BRIT School, two globally renowned hotels, 20+ restaurants and bars, 550,000 sq ft of creative offices and studios, and 2.5 acres of gardens and public realm.

Yoo Capital has invested over £2.5 billion into Central London since it was founded in 2010 by international property entrepreneur John Hitchcox and real estate veteran Lloyd Lee. The firm is committed to creating new spaces for London that support the arts, creative, hospitality and science-led industries and are sustainably minded to evolve and stand the test of time.

Lloyd Lee, Managing Partner, Yoo Capital, said: 

“We are looking forward to working with the London Borough of Camden and the local community to bring forward the ambitions for a Camden Film Quarter. This project will be a shot in the arm for the UK’s creative industries as we look to fuel its exponential growth by attracting the best talent in TV and film to the area. We will be spending the coming months getting to know our neighbours and beginning our work with them to co-author an exemplary masterplan vision.”

Councillor Danny Beales, Cabinet Member for New Homes, Jobs and Community Investment, said:

“We know there is huge creative potential in the people who live and work in Camden. We want to unlock the Kentish Town industrial area to transform this cut-off, unwelcoming site, into one that becomes a greener, welcoming space, connecting Gospel Oak with Kentish Town. A new thriving neighbourhood, which is a beacon for creativity, providing more desperately needed affordable homes for local people, good jobs and opportunities for existing communities.

“This is going to be a development shaped with local communities and Camden and Yoo Capital are looking forward to working with residents on realising the shared community vision and getting resident’s thoughts at every stage. We see this development as a way to help combat many of the issues residents are facing in Camden.

John Hitchcox, Chairman, Yoo Capital, said: 

“We are delighted to be drawing on our experience of community engagement and placemaking to bring forward another exciting scheme in Camden. We commend the Kentish Town Framework’s commitment to creating a zero emissions neighbourhood and look forward to working with local organisations to strive for the highest levels of sustainability.”

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Yoo Capital, the majority owner of Shepherd’s Bush Market since September 2020, has unveiled proposals for major investment in the Market and to develop land on the adjacent Old Laundry Yard site.

The plans follow two years of conversations with Shepherd’s Bush Market traders to understand their businesses and concerns, as well as the needs of the Market as a whole and its customers.

Yoo Capital has now secured the long-term positions of the Market traders by offering financial support during construction, business support and training, as well as new 10-year leases.

The planned investment gives the area a major shot in the arm as businesses continue to work to recover lost ground from the pandemic amid a cost-of-living crisis.

The proposals seek to reimagine the Market as though it had continual investment for the last 20 years and include new entrances, a new canopy and road surfaces as well as new stalls and, grants for investment into shops and units in railway arches.

Lloyd Lee, Managing Partner, Yoo Capital, said: “Shepherd’s Bush Market has a unique vibrancy and culture. As a firm, we believe in celebrating community assets across London.  We made a commitment to Shepherd’s Bush Market’s traders to invest in the Market in a way that honours and retains its much-loved sense of community and diversity.” 

 Yoo Capital has brought in new market managers, REimagine City, to revitalise the experience of the market for existing traders and the local community by supporting independent retail and grassroots culture. REimagine will be setting up a High Street Academy in early 2023 and have transformed a vacant arch into a training venue which showcases prototype stalls and displays that will become the ‘Market of the Future’.

Chris Smith, Market Director, REimagine, said: “With our High Street Academy, there is an opportunity to create something unique for London. Traditional retail has struggled post-pandemic and we want to support a new generation of innovative retailers and hospitality businesses to grow organically. The Academy space aims to teach real world skills and lower the barriers for individuals with creative ideas to try out new concepts.  Coupled with the potential for collaboration between businesses in the co-working and life sciences spaces on site will make this space special and we are excited to see the type of partnerships it generates.”

The life sciences incubator on the Old Laundry Yard site will be the largest of its kind in London and will support start-ups and SMEs in science, technology and engineering. The incubator will be operated by Imperial College London, who are based in nearby White City.

John Anderson, Imperial College London’s Director of Financial Strategy, said: “We are delighted to be partnering with Yoo Capital to open a deep tech incubator space in Shepherd’s Bush. There is a great demand for purpose-built lab within genuine ecosystems like those now established in the White City Innovation District.  This will provide critical infrastructure for start-up and scale up enterprises emerging from Imperial College London, LBHF and across the Capital.” 

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