Professional, Experienced, Proven

A specialist UK real estate investment management business working with institutional funds, family offices and private equity.

Delivering superior absolute and risk adjusted returns through responsible investment and development

  • 23%

    Average realised IRR (Per Deal)

  • 1.86X

    Average equity multiple (Per Deal)

  • £675m

    Gross Asset Value Transacted

  • £461m

    Total GDV of developments delivered

  • 35

    Assets transacted

  • 1.10m Sq.Ft

    Total space delivered

Our team has worked together for over 15 years and collectively we have extensive experience across all real estate sectors within the UK. We approach real estate from the investors perspective with an acute focus on the detail as well as the ‘bigger picture’ to ensure that we protect and create value.

Bradley Cassels, Co-Founder

Bradley co-founded Portland Capital in 2017 and is responsible for overall investment and asset management strategy. Bradley started his career in 1999 at Jones Lang LaSalle working in London in the Capital Markets team and then moved to Investream in 2002. He joined Development Securities Plc in 2004 and ultimately became the Director responsible for all investment and joint venture activity.

Laurence Martin, Co-Founder

Laurence co-founded Portland Capital in 2017 and is responsible for overall development strategy including feasibility, planning and delivery. Laurence started his career in 2000 with Knight Frank in the Central London development and leasing team. He joined Development Securities Plc in 2004 and ultimately became the Director responsible for all regeneration and trading activity in London and the South East.

Romain Palpacuer, Director

Romain joined Portland Capital in 2018 and is responsible for assisting the business in underwriting and structuring new and existing investment and development projects, financial analysis, asset management and reporting. Romain started his career in Paris at PwC Advisory, followed by the Corporate Solutions team at Jones Lang LaSalle, before moving to London in the EMEA Corporate Finance Team at C&W. He joined Development Securities Plc in 2014 where he worked across both Investment and Development teams.

Partnership Investing

Portland Capital identifies, structures, and actively manages investment and development opportunities alongside its capital partners. We focus on taking an entrepreneurial approach to real estate, delivering attractive absolute and risk adjusted returns.


We invest in underperforming, undermanaged or obsolete real estate which has potential to deliver strong and sustainable growth through planning, development and proactive asset management.

Investment Management Services

We provide bespoke investment management advice to institutional funds, family offices, lenders and individual investors.

We offer a broad range of services across the life cycle of a project from acquisition underwriting & execution, financial modelling / analysis through to business plan formation/execution and strategic disposal advice. Asset Management and Development Management are at the core of what we do.

Asset Management

  • Strategic review in line with investor objectives and formation of specific asset plans over 1-5 year period.

  • Identifying opportunities to protect and drive value through lease restructuring, rent reviews, repositioning and planning.

  • Management of third party lenders including regular reporting and analysis.

  • Overseeing all day to day operational activity relating to both revenue and costs to optimise net operational income.

  • Regular high quality reporting against asset plan incorporating financial analysis.

Development Management

  • Feasibility analysis balancing cost, risk, opportunity and value to create a clear business plan.

  • Compiling best in class professional team across all disciplines.

  • Working with stakeholders to secure optimal planning consents.

  • Advise on potential funding structures to deliver the development.

  • Appointment and management of building contractor through delivery process to completion and defects period.

  • Regular high quality reporting throughout the life of the project incorporating financial analysis.

Financial Analysis/ Modelling

  • Detailed, accurate and bespoke high grade financial modelling and analysis for any type of real estate transaction, producing all property and financial KPIs.

  • All investment and development scenarios incorporating all types of capital structure (senior / mezzanine / JV equity / forward funding).

  • Assistance with funder relations and reporting including financial tracking, pro-forma underwriting, and general reporting (ex: quarterly ICR / DSCR calculations).

  • Based on extensive market research and utilising relationships across multiple disciplines.

Case Studies

399 Edgware Rd, London

  • 80k sq.ft foodstore, 50k sq.ft retail & 200 new homes

  • Total GDV of £150m

  • Planning secured, pre-let foodstore and scheme forward funded by institutional investor

South Woodham Ferrers

  • 50k sq.ft foodstore pre-let to Sainsburys

  • Total GDV of £35m

  • Planning secured, pre-let foodstore and scheme forward funded by institutional investor

Cross Quarter, Abbey Wood, London

  • 80k sq.ft foodstore & 50 new homes

  • Total GDV of £ 85m

  • Planning secured, pre-let foodstore and scheme forward funded by institutional investor

Horizon Building, Ilford

  • 55k sq.ft former office developed into 120 new homes

  • Total GDV of £70m

  • Planning secured, debt funded. All units pre-sold prior to completion

Chrome Portfolio

  • 39 residential and commercial assets

  • Residential refurbishment programme and commercial leases re-geared. Exited all assets over 24 month period.

  • Acquisition Price: c. £103m

  • UK Family Office partner

Manchester Arena

  • 20,000 seat arena + 100,000 sq.ft of retail and office space.

  • Arena operator lease re-geared, advertising revenues increased, office refurbishment and re-letting, new naming rights deal

  • Acquisition Price: £62m

  • Private Equity partner

Tubbs Hill House, Sevenoaks

  • 65,000 sq.ft multi tenanted office building

  • Permitted development rights secured for residential conversion. VP strategy implemented. Sale to UK housebuilder.

  • GDV: £35m

Wick Lane Wharf, London E3

  • 112 live/work residential block

  • Planning consent obtained for residential (C3). Refurbishment strategy implemented. Sales & marketing strategy implemented.

  • GDV: £50m

  • Private Equity partner

Market Sq, Romford

  • 80,000 sq.ft of retail, offices and 22 part built residential apartments

  • Development works completed, apartments sold, vacant retail space let and existing tenant lease re-structure

  • GDV: £21m

Seedbed Centre, Romford

  • 35,000 sq.ft multi-let industrial estate

  • Asset managed to push headline rents from £20psf to £35psf over 2 years

  • Acquisition Price: £10m

  • Private Equity partner

Kings Cross Portfolio

  • 5 office buildings in zone 1 & 2 totalling 70,000 sq.ft.

  • Permitted development rights secured and VP strategy implemented

  • GDV: £50m

Rom Valley Retail Park, Romford

  • 80,000 sq.ft multi-let retail park

  • Restructuring leases, planning obtained for foodstore use on part. Feasibility for full residential led redevelopment.

  • GDV: £375m

  • Private Equity partner

Riverside Business Park, Guildford

  • 48,000 sq.ft multi-let industrial estate on 2.4 acre site

  • Progressing planning for mixed use PBSA/ residential led scheme

  • GDV: £120m

  • UK Family Office partner

Charlton Riverside, London SE7

  • 10 acres of industrial land over 5 plots

  • Resolved restrictive covenant issue and implemented VP strategy. Feasibility for residential led redevelopment. Sold to HA

  • GDV: £350m

  • Private Equity partner

Mecca Bingo, Wood Green

  • 39,000 sq.ft unit on 2.5 acre site

  • Re-structure occupational lease and carry out feasibility studies for residential led redevelopment

  • GDV: £100m

  • Private Equity partner

Rock Portfolio

  • 14 asset portfolio inc residential , retail, industrial, leisure and offices

  • Planning consents obtained for residential, lease re-restructuring

  • Acquisition Price: £23m

London Stansted

  • Adjacent to Stansted airport

  • 100K Multi-let industrial estate

  • 30+ acres of additional development land

Contact

Portland Capital Real Estate Ltd
30 Berwick Street London W1F 8RH