What Castleforge does

Castleforge is a London-based, privately held real estate investment firm founded in 2010 that invests thematically across the UK and Europe on behalf of pension funds, institutions, and high-net-worth individuals. The firm pursues a vertically integrated model, employing in-house specialists across research, acquisition, asset management, and exit, and deploys capital across offices, hospitality, residential, and — most recently — data centre assets. Notable transactions include the joint acquisition of Deutsche Bank's London headquarters with Gamuda, a five-asset first deal in the Netherlands, and entry into Germany via Bremen in 2018.

The firm operates two proprietary platforms: Clockwise, a serviced office brand launched in 2017 that delivers flexible workspace across UK regional cities and generates net EBITDA per square foot approximately 76% above market rents, and Ocasa, a workforce housing platform providing professionally managed rental housing for middle-income workers. In late 2024, Castleforge entered the data centre sector through a joint venture with Galaxy Data Centers, acquiring the 11,800 sq m Redhill campus hosting 26 tenants including Fortune 500 companies, and committing £200m toward a 15MW facility as part of a £500m campus expansion. The firm is also in advanced talks to acquire London's 36-story CityPoint tower from Brookfield for approximately £455m.

Castleforge generates revenue through a combination of asset management and performance fees on institutional mandates, recurring rental income from operating platforms (Clockwise offices, Ocasa housing), and capital gains from strategic acquisitions, renovations, and refinancing — illustrated by the £26.6m Secure Trust Bank loan refinancing nine Northern England apartment blocks. The go-to-market is exclusively B2B and institutional, with capital raised directly from LPs and deployed through bilateral mandates rather than retail distribution.

Name

Castleforge

Legal name

Castleforge Partners Limited

Website

https://castleforge.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Castleforge is a London-based, privately held real estate investment firm that invests thematically across UK and European offices, hospitality, residential, and data centres on behalf of pension funds, institutions, and high-net-worth individuals, using proprietary operating platforms Clockwise and Ocasa.

Ownership category

akta.pro rank

Product category

Real Estate Investment Management

NAICS

Other Investment Pools and Funds (5259), Other Financial Investment Activities (5239), Nonresidential Property Managers (531312)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

akta.pro secondary industries

Real Estate Funds — Opportunistic / Development (FSANAEAI), Real Assets — Infrastructure (Core/Core+, Brownfield/Greenfield) (FSAHAIAC)

Keywords

• Real estate investment
• Property asset management
• Serviced office space
• Workforce housing
• Thematic real estate investing

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Real Estate Asset Management & Performance Fees: Castleforge generates fees by managing real estate investments on behalf of pension funds, institutions, and individuals. The firm creates consistent and sustainable value through three key drivers: research focus, operational enhancement, and vertical integration, with revenues tied to asset performance and fund management mandates.
2. Operating Platform Revenue (Clockwise): Castleforge's Clockwise serviced office platform generates rental income from flexible workspace leases to SMEs and corporate occupiers. At stabilised 90% occupancy, Clockwise generates net EBITDA per square foot approximately 76% above market rents. Blue-chip tenants such as major corporations have taken flexible month-to-month and longer-term leases.
3. Residential Rental Income (Ocasa): The Ocasa workforce housing platform generates recurring rental income from professionally managed, high-quality residential units targeting middle-income workers in UK regional cities.
4. Property Refinancing & Development Gains: Castleforge creates value through strategic property acquisitions, renovations, and refinancing. The £26.6 million Secure Trust Bank loan to refinance a portfolio of nine apartment blocks across Northern England funds significant renovations as part of Castleforge's long-term strategy of upgrading residential buildings.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Castleforge is a vertically integrated real estate investor that raises capital from pension funds, institutions, and high-net-worth individuals and deploys it through direct property acquisitions and joint ventures across UK and European offices, hospitality, residential and data centres. It runs two purpose-built operating platforms — Clockwise (serviced offices) and Ocasa (workforce housing) — to amplify yields on owned assets, while managing the full investment lifecycle in-house through research, ESG due diligence, asset management, and operations.

Product overview

Castleforge operates as a vertically integrated real estate investment platform with two primary operating platforms: Clockwise (serviced office brand) and Ocasa (workforce housing platform). The company invests in UK and European commercial and residential real estate on behalf of pension funds, institutions and individuals, covering asset classes including offices, hotels, residential apartments, and data centers.

Differentiator

Problem solved

Functional benefit

Brands

• Clockwise: Serviced office product offering flexible office space solutions with locations across UK cities including Glasgow, Belfast, Liverpool, Bristol, London, and European cities
• Ocasa

Products and services

• Clockwise Serviced Offices Castleforge's proprietary serviced-office operating platform offering flexible private offices, dedicated desks, club memberships and turnkey office solutions to SMEs and blue-chip corporate occupiers in UK regional cities and selected European locations; target performance is ~76% net EBITDA per square foot above market rents at stabilised 90% occupancy.
• Ocasa Workforce Housing Castleforge's workforce-housing operating platform providing professionally managed, high-quality rental housing affordable to middle-income workers across UK regional cities under a property-as-a-service model, addressing single renters often deprioritised on social housing waiting lists.
• Thematic Real Estate Investment Management Institutional real estate investment management service under which Castleforge raises capital from pension funds, institutions and high-net-worth individuals and deploys it through direct acquisitions and joint ventures across UK and European offices, hospitality, residential and data centres, applying a research-based, vertically integrated approach and Building Sustainability Audit due diligence.

Quantifiable outcome

• Clockwise generates net EBITDA per square foot approximately 76% above market rents at a cost basis only 23% higher than traditional fit-outs
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered flagship/ core and minor.

• Galaxy Data Centersflagship/ coreStrategic or Co-development Partner · 8 January 2025Castleforge and Galaxy Data Centers jointly acquired the Redhill Data Centre in Surrey in late 2024, marking Castleforge's entry into the data centre sector. The 11,800-square-meter campus hosts 26 tenants including Fortune 500 companies. The partnership is pursuing a major expansion: a £200m investment to develop a new 15MW, two-storey facility with four data halls on the existing 127,000 sq ft campus, with a gross project value of approximately £500m. The facility will incorporate waste heat recovery technology, designed to achieve a BREEAM 'Very Good' rating, and has received full planning consent from Reigate & Banstead Borough Council. This is Castleforge's first data centre investment.
• Dutco GroupminorChannel Partner/ Reseller/ Distributor · 3 December 2024Castleforge sold The Bruntsfield Hotel in Edinburgh to Dubai-based Dutco Group. The transaction is part of Dutco's expansion into Scotland's hospitality market, with plans for refurbishment and repositioning of the hotel as a luxury property.
• Gamudaflagship/ coreStrategic or Co-development PartnerCastleforge and Gamuda jointly acquired Deutsche Bank's London headquarters in a landmark City deal, marking a significant joint venture acquisition in the London office market.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Patron Capital Partners: Pan-European mid-market real estate private equity firm that invests thematically across UK and continental Europe on behalf of institutional LPs. Closely comparable to Castleforge in mandate size, geographic focus, and value-add/opportunistic approach.
• Clearbell Capital: UK-focused real estate private equity manager investing across commercial, residential, and mixed-use assets. Comparable to Castleforge as a domestic UK RE sponsor with active asset management and operating-led strategies.
• Quintain: UK developer and operator of build-to-rent residential assets, notably at Wembley Park. Comparable to Castleforge's Ocasa workforce housing platform in operating-led UK residential strategy.
• Round Hill Capital: European real estate investment and asset manager with significant UK residential (build-to-rent) and commercial exposure. Comparable to Castleforge in geographic footprint and operating-platform strategy, particularly the workforce/BTR lens of Ocasa.
• IWG plc: Global operator of flexible and serviced office brands (Regus, Spaces). Comparable to Castleforge's Clockwise platform in product, target tenants (SME and corporate flex), and UK/European footprint, though at far greater scale.
• Benson Elliot Capital Management: UK-headquartered mid-market real estate private equity firm investing across UK and Western Europe. Comparable in scale, institutional LP base, and thematic pan-European value-add approach.

Broad incumbents

• M&G Real Estate: Major UK and European real estate investor managing capital for institutional and retail clients. Comparable as a large UK/European RE investor serving pension-fund capital, though with broader asset coverage and deeper resourcing than Castleforge.
• Schroders Real Estate: Large diversified real estate investment manager within Schroders, offering core, core-plus, and value-add strategies across UK and Europe. Overlaps with Castleforge's institutional LP-facing real estate strategies but at materially greater AUM and broader mandate.
• Legal & General Capital: Real estate investment arm of Legal & General, deploying long-term institutional capital into UK urban regeneration, residential, and commercial assets. Comparable to Castleforge in institutional capital base and UK thematic investing, but with significantly larger scale and balance sheet.
• DWS Real Estate: Global real estate investment manager with significant UK and European value-add and core-plus strategies. Comparable as an institutional-facing pan-European real estate manager, though at much larger AUM scale and broader product set.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/castleforge

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Castleforge