Cube Real Estate

What Cube Real Estate does

Cube Real Estate is a London-based, privately held real estate investment management and development firm founded in 2002 by Stuart Loggie. The firm sources mispriced, complex, or distressed UK commercial property, repositions or develops it, and actively manages it on behalf of institutional capital partners. Its portfolio spans approximately 450,000 sq ft across 75 units, generating £5.5M+ of annual rental income, with direct exposure across industrial/logistics, retail (including retail parks), office, and roadside sectors. The firm operates as a multi-sector, capital-partner-facing platform with a long track record of winning mandates from institutional investors, including the BP Pension Fund-backed Cubemaker since 2009 and the NFU Mutual-backed Hathaway Opportunity Fund since 2019, alongside relationships with LCN Capital Partners, Pinebridge, Federated Hermes, and LGIM.

The firm's core operating model combines direct asset ownership with capital-partner mandates: it deploys its own balance sheet on certain assets, acts as fund manager for institutional JVs, and sources forward-funded development mandates. The £250M forward-funded redevelopment of the Unilever Campus in Kingston, completed in December 2024 on a 15-year pre-let to Unilever, is the most visible example of the firm's development capability. The firm has executed a series of acquisitions from special situations and receivers, including Swan Walk in Horsham (October 2024) and Hathaway 89 in Warrington (September 2024), and has expanded into the roadside and drive-thru segment through a dedicated hire and a portfolio acquisition in 2026.

The business is small (1–10 employees per registry data, with a named team of approximately 15) and achieved B Corp certification in 2025, signalling an ESG positioning that aligns with the mandates of ESG-constrained institutional capital. Revenue is generated through three streams: rental income from the directly held portfolio, asset management fees on institutional mandates, and development management fees on forward-funded and repositioning projects. There is no proprietary technology platform disclosed; the firm's differentiation rests on its sourcing network, experienced team drawn from major institutional real estate platforms, and track record of executing complex transactions.

Name

Cube Real Estate

Legal name

Cube Advisers Limited

Website

https://cube-re.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

London-based real estate investment management and development firm founded in 2002 that sources, develops, and actively manages UK commercial property across industrial, retail, office, and roadside sectors for institutional capital partners including NFU Mutual and BP Pension Fund.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment Management

NAICS

Portfolio Management and Investment Advice (52394), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Vehicles (525990)

SIC

Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Commercial Real Estate Asset Management (BPAJAMAB)

akta.pro secondary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Real estate investment management
• Commercial property development
• Asset management services
• Property fund management
• Institutional real estate

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, Marketing or Sales, Others

Revenue model

1. Real Estate Investment Management Fees: Cube RE earns fees as fund manager for institutional and private equity mandates, including the Hathaway Opportunity Fund (HOF) with NFUM, and the Cubemaker fund with BP Pension Fund. Revenue derives from acquisition, development management, and asset management services charged to capital partners.
2. Property Rental Income: Cube RE generates rental income from its directly held and managed property portfolio including industrial units, retail parks, shopping centres, and office assets. Income is supplemented by lease regears, rent reviews, and re-letting of vacant space across its ~450,000 sq ft UK portfolio.
3. Development and Forward Funding: Cube RE acts as development manager and secures forward funding from capital partners (e.g., £250m from LCN Capital Partners for Unilever Kingston campus). Revenue is earned through development management fees and carried interest on project completions above target returns.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Cube RE is a privately owned real estate investment management and development company that acquires, develops, and actively manages UK commercial property assets on behalf of institutional capital partners. Its core offering comprises fund management mandates (Hathaway Opportunity Fund with NFU Mutual; Cubemaker with BP Pension Fund), direct property investment across a ~450,000 sq ft portfolio of industrial/logistics, retail parks, shopping centres, office campuses, and roadside assets, and forward-funded development management (e.g., the £250m Unilever Campus, Kingston). Revenue is generated through investment management fees, development management fees, carried interest, and rental income from owned assets.

Product overview

Cube RE is a privately owned real estate investment management and development company that operates across all property sectors. The company's core offering consists of identifying and acquiring mispriced or complex property opportunities, developing assets with enhanced design and functionality, and actively managing portfolios for performance. Their portfolio spans multiple property types including industrial/logistics units (Hathaway 89 Warrington, Hathaway 32 Heathrow, Logistics House Burgess Hill), retail parks and shopping centres (Swan Walk Horsham, St Andrews Square Droitwich, Studlands Retail Park Newmarket, Slough Retail Park, Ringwood Road Retail Park Bournemouth), office developments (Unilever Campus Kingston, 11 Brindley Place Birmingham, 55 Princess Street Manchester, Cambourne Business Park Cambridge), and mixed-use schemes (Plantation Wharf Battersea). The company operates through joint ventures including the Hathaway Opportunity Fund (HOF) with NFU Mutual, delivering above-market returns for institutional partners while embedding ESG principles across all managed assets.

Differentiator

Problem solved

Functional benefit

Brands

• HOF (Hathaway Opportunity Fund): Joint venture with Hathaway Opportunity Fund for UK property investments

Quantifiable outcome

• £250m forward funding secured from LCN Capital Partners for Unilever Campus Kingston
• +6 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• McLaughlin & HarveycoreImplementation/ SI/ Consulting PartnerMcLaughlin & Harvey served as construction manager for the Unilever Campus, Kingston development. They completed the structural frame on programme and managed the envelope and internal fit-out. They handed over the completed project to Cube RE.
• Tandem Property Asset ManagementcoreImplementation/ SI/ Consulting PartnerTandem was appointed by Cube RE to provide property asset management, facilities management, financial management services, and due diligence across a portfolio of 450,000 sq ft across 75 units including St Andrews Square, Studlands Retail Park, and Marus Bridge Retail Park.
• Creative RetailcoreChannel Partner/ Reseller/ DistributorCreative Retail was appointed as the retained letting agent for St Andrew's Square, Droitwich. They are responsible for marketing available units and attracting new retail and leisure occupiers to the scheme.
• Syzygy ConsultingminorStrategic or Co-development PartnerCube RE has partnered with Syzygy Consulting, a leading renewables specialist, to improve solar capacity across all managed assets as part of its ESG strategy.
• HDL Estates LtdminorStrategic or Co-development PartnerHDL Estates Ltd, acting as development manager, is partnered with Cube RE in delivering the best-in-class sustainable multi-let industrial and self-storage development at Hathaway Park, Crawley (~£30m GDV).

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Apache Capital Partners: UK real estate investment management firm with a focus on operational and value-add strategies. Olga Ledlie joined Cube RE from Apache as Finance Associate Director; comparable institutional fund management model and operating approach.
• Clearbell Capital: UK real estate fund manager investing across commercial sectors with active asset management and value-add strategies. Comparable AUM scale and UK value-add/opportunistic mandate focus make it a direct competitor for institutional capital and off-market deal flow.
• Brockton Capital: UK-focused real estate opportunity fund manager investing across commercial property sectors with development and active asset management capability. Comparable institutional mandate model and UK value-add/opportunistic thesis.
• Moorfield Group: UK-focused real estate investment manager active in commercial property investment and asset management across industrial, office, and retail. Cube RE's Investment Director (Nic Lowry) was formerly Senior Investment Manager at Moorfield, indicating direct personnel and strategy overlap.
• Fiera Real Estate: UK and European real estate investment manager with active asset management mandates and a value-add/opportunistic approach. Comparable institutional LP base and ESG-integrated investment strategy.
• Palace Capital: UK-listed REIT and property investment company with a focus on UK commercial real estate. Cube RE's Senior Asset Manager (Jonathan Butcher) was previously at Palace Capital; comparable asset management focus on UK regional office and industrial assets.
• Evans Randall Investors: UK-based real estate investment manager with a focus on UK commercial property across office, retail, and industrial sectors. Comparable institutional fund management approach and active asset management orientation.
• M7 Real Estate: Multi-strategy real estate investment manager with significant UK presence, focused on value-add and opportunistic commercial property. Comparable institutional LP relationships and active asset management approach.

Broad incumbents

• Federated Hermes (Real Estate): Global asset manager with significant UK real estate operations and listed as a Cube RE partner. Federated Hermes is a much larger incumbent with broader product range, but its UK real estate business competes directly for institutional mandates.
• Legal & General Investment Management (Real Assets): Major UK asset manager with substantial real estate investment operations, also listed as a Cube RE partner. A large incumbent that competes for UK institutional mandates and direct real estate allocations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cube-re
• Xx.com/CubeRealEstate

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Cube Real Estate