LS Estates
LS Estates is a London-based boutique real estate developer and asset manager that acquires and retrofits obsolete office, industrial and residential assets for institutional investors, operating on a retro-first, sustainability-led model with co-investment.
- Company typePrivate
- Founded2014
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What LS Estates does
LS Estates is a privately-held, boutique real estate developer and asset manager founded in 2014 by Mark Swetman and headquartered at 1 Bow Lane in the City of London. The firm operates a retro-first development model that acquires, refurbishes and repositions redundant or obsolete office, industrial and residential assets in central London, delivering them to institutional sustainability standards such as BREEAM Excellent/Outstanding, EPC A/B and WiredScore Platinum/Gold. Its differentiated capability is the conversion of dated stock into institutional-grade product through carbon management, structural retention and planning navigation, evidenced by completed exits on 7 Newgate Street (sold March 2022) and prior sales of 30 Moorgate and 30 South Colonnade, and a current £600m+ asset base spanning 17 Columbus Courtyard, 5 Chancery Lane, The Wingate and Barnes Hospital.
LS Estates generates revenue through three interrelated streams: development management fees on mandates where it acts as Development Manager or Development & Asset Manager, recurring asset management fees on long-dated mandates such as the BC Partners appointment on The Wingate, and co-investment returns where it deploys capital alongside institutional partners. Pricing is bespoke and negotiated on a project-by-project basis; no public tiers or ARR-style pricing exists. Customer segments are led by institutional investors (BC Partners, Blackstone, AXA, Oaktree, GIC, OCBC, LaSalle, Deutsche Hypo, Coutts, Doric) and international capital sources (notably Hong Kong, Singapore, Middle East and European markets), with property companies and private HNW individuals as secondary segments. GTM is enterprise field sales through direct relationships managed by Paul McNair (Capital Markets & Client Relations) and Tim Pring (MD Transactions, ex-CBRE), with project-level support from leasing agents such as Cushman & Wakefield and contractors such as Ardmore Group.
The firm employs 13 professionals with over 250 years of combined London real estate experience and is led by Mark Swetman (CEO, ex-Hammerson/Hines) and James Fleming (Executive Chairman, ex-banking/financial services), with senior advisory from former Oaktree MD Jeffrey Chalmers. In November 2024 it launched LSi, an industrial and logistics division targeting £200m of investments and led by Paul Crosbie (ex-M&G Real Estate, Rockspring/Patrizia, CBRE), extending the platform beyond its core office retrofit franchise.
LS Estates firmographics
Firmographics- Name
- LS Estates
- Legal name
- LS Estates
- Website
- https://ls-estates.co.uk
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- LS Estates is a London-based boutique real estate developer and asset manager that acquires and retrofits obsolete office, industrial and residential assets for institutional investors, operating on a retro-first, sustainability-led model with co-investment.
- Ownership category
- akta.pro rank
LS Estates industry classification
Industry- Product category
- Commercial Real Estate Development and Asset Management
- NAICS
- Real Estate Property Managers (53131), Offices of Real Estate Agents and Brokers (5312), Other Activities Related to Real Estate (531390)
- SIC
- Real Estate Agents & Managers (For Others) (6531), Real Estate (6500)
- akta.pro primary industry
- Office Real Estate Asset Management (BPAJAMAG)
- akta.pro secondary industries
- Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth) (BPAJADAJ), Flex / R&D Industrial Space Brokerage (BPAJACAC)
Keywords
Where LS Estates is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
LS Estates business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Development Management Fees: Fees earned as appointed development manager on real estate projects. LS Estates serves as Development Manager & Co-Investor on projects like 7 Newgate Street and Development & Asset Manager on others like 5 Chancery Lane.
- Co-Investment Returns: The company co-invests in projects alongside capital partners and shares in the investment returns upon asset exit. Sold 7 Newgate Street in March 2022 to an owner occupier; 30 Moorgate sold in 2018 to KanAm; 30 South Colonnade sold in 2019 to Oaktree.
- Asset Management Fees: Ongoing fees for asset management mandates. LS Estates appointed by BC Partners as Asset Manager on The Wingate, a prestigious mixed-use development in London's West End.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
LS Estates product offering
Product offeringCore offering
LS Estates is a boutique, retro-first real estate developer and asset manager focused on the central London market. The company identifies and transforms redundant or obsolete office, residential, and industrial assets through refurbishment and redevelopment, acting as development manager and co-investor alongside institutional and international capital partners. Services include development management, asset management, capital markets transactions, and structured finance for retrofit-led office, residential, and industrial schemes.
Product overview
LS Estates is a retro-first developer and asset manager operating in the London market. The company provides a full suite of services including development management, asset management, and co-investment partnership across office, residential, and industrial sectors. The core offering consists of identifying and transforming redundant or obsolete assets through refurbishment and redevelopment. Notable products include 17 Columbus Courtyard (science workspaces in Canary Wharf), 5 Chancery Lane (historic office retrofit), 7 Newgate Street (premium office), and Barnes Hospital (residential redevelopment). The recently launched LSi division extends the portfolio into industrial and logistics. Services are delivered through teams specializing in transactions, development, structured finance, and capital markets.
Differentiator
Problem solved
Functional benefit
Brands
- LSi: Industrial and logistics division of LS Estates dedicated to the industrial and logistics sector, evaluating £200m of potential investment opportunities.
Products and services
- Retro-First Office Development and Asset Management Development management and asset management of office buildings in central London, transforming redundant or obsolete assets into premium workspaces suitable for long-term investment retention. Targeted at institutional investors, private equity real estate funds, and international capital partners.
- LSi Industrial and Logistics Division A newly created division dedicated to the industrial and logistics sector, applying LS Estates' carbon management expertise from CBD office development to create sustainable, future-proofed logistics space. Targeted at investors seeking exposure to UK industrial and logistics assets.
- 17 Columbus Courtyard (17CC) Refurbishment, extension and repositioning of a former office building in Canary Wharf into approximately 190,000 sq ft of CL2 science workspaces, targeting BREEAM Excellent, EPC A and WiredScore Platinum. A standalone LS Estates development project.
- 7 Newgate Street Refurbished 75,000 sq ft premium office space with retained structure and facade, adding a rooftop pavilion and garden. Completed and sold in March 2022 to an owner occupier as a development exit.
- 5 Chancery Lane (5CL) Comprehensive refurbishment and extension of a historic City of London office building providing 106,000 sq ft of premium office space with a contemporary 3-storey curved glass extension. Pre-assessed BREEAM Excellent with 86% retention of original building and 33% lower embodied carbon than the GLA benchmark.
- Barnes Hospital Redevelopment Comprehensive redevelopment of the former Barnes Hospital in the London Borough of Richmond upon Thames for a residential apartment scheme comprising 107 new homes with 22% affordable housing. Targets Net Zero design, 35% on-site carbon reduction, 80%+ biodiversity net gain, and BREEAM Outstanding.
- The Wingate Asset Management Asset management mandate on The Wingate, a 73,522 sq ft mixed-use development in Soho, London's West End, comprising refurbished Grade A offices, premium retail and leisure space, rated EPC B, BREEAM Excellent and WiredScore Gold.
Quantifiable outcome
- Over £600m of assets currently in development and asset management in London
- +3 more outcomes
Companies that use LS Estates
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
LS Estates technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
LS Estates partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Avison YoungcoreAvison Young served as planning agent alongside LS Estates in securing planning permission for the Barnes Hospital residential redevelopment project in Mortlake, Richmond Upon Thames.
- Cushman & WakefieldcoreAndrew Parker at Cushman & Wakefield handling pre-leasing activities for 5 Chancery Lane project ahead of Q1 2026 completion.
- RX LondoncoreFrances Warner Lacey at RX London handling pre-leasing activities for 5 Chancery Lane project ahead of Q1 2026 completion.
- Ardmore GroupcoreArdmore Group appointed as main contractor for 5 Chancery Lane redevelopment and retrofit project, a 106,000 sq ft office scheme in the Fleet Street Quarter.
Scale indicators5 records
Recent moves8 records
Expansion highlights5 records
LS Estates competitors and assessment
Company assessmentDirect peers
- Stanhope plc:
- Fenton Whelan: Boutique London real estate development and investment firm focused on central London office and mixed-use schemes with institutional capital. Highly comparable in scale, mandate type, and boutique positioning.
- Helical plc: Central London office repositioning specialist focused on refurbishing older stock into Grade-A space, with sustainability credentials. Closest direct peer in scale and thesis to LS Estates' retro-first office play, though also publicly listed.
- Brockton Capital: Privately-held London real estate investment and development firm focused on institutional capital partnerships in central London. Closest private peer to LS Estates in scale, mandate type, and target investor base.
Broad incumbents
- Great Portland Estates: London-listed REIT specialising in office refurbishment and redevelopment across central London. Highly comparable to LS Estates' retro-first office thesis, though operating at much larger scale (multi-billion AUM) and as a public REIT versus private boutique.
- Derwent London: Central London-focused REIT specialising in design-led office refurbishment and redevelopment. Overlapping thesis with LS Estates on retrofitted, sustainable office space, but operates as a large public REIT (multi-billion AUM).
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
LS Estates social profiles
Digital presenceLS Estates compliance and trust
Trust signalCompliance10 records
LS Estates financial estimates
Financial estimateRevenue estimate
Valuation estimate
LS Estates leadership team
Management profileNumber of profiles
Profiles13 records
LS Estates subsidiaries and ownership
Company hierarchySubsidiaries1 record
LS Estates funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
LS Estates M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about LS Estates
What does LS Estates do?
LS Estates is a boutique, retro-first real estate developer and asset manager focused on the central London market. The company identifies and transforms redundant or obsolete office, residential, and industrial assets through refurbishment and redevelopment, acting as development manager and co-investor alongside institutional and international capital partners. Services include development management, asset management, capital markets transactions, and structured finance for retrofit-led office, residential, and industrial schemes.
Is LS Estates a public or private company?
LS Estates is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was LS Estates founded?
LS Estates was founded in 2014. It employs 11 to 50 people.
Where is LS Estates based?
LS Estates is headquartered in London, United Kingdom, in the Europe region.
How does LS Estates make money?
Three revenue lines are on record. Development Management Fees are the primary driver. The others are co-Investment Returns and asset Management Fees.
Who are LS Estates's main competitors?
Direct peers on record are Stanhope plc, Fenton Whelan, Helical plc and Brockton Capital. Broad incumbents are Great Portland Estates and Derwent London.
Does LS Estates have an API?
No public API is recorded for LS Estates.
What industry is LS Estates in?
LS Estates's product category is Commercial Real Estate Development and Asset Management. Its primary akta.pro industry code is BPAJAMAG, Office Real Estate Asset Management, with a secondary code of BPAJADAJ, Transitional/Development Land Brokerage (Entitled, In-Path-of-Growth). Its NAICS code is 53131 and its SIC code is 6531.