HOBART CAPITAL PARTNERS
Strategic Investment. Sustainable Real Estate. Superior Returns.
About
Hobart Capital Partners is a UK real estate operating partner & co-investor focused on value-add and opportunistic investment strategies across all asset classes.
We specialise in transforming under-utilised or misaligned assets through strategic repositioning, creative capital structuring, and disciplined hands-on execution — unlocking strong risk-adjusted returns for our capital partners.
Backed by more than a century of collective UK transactional experience, Hobart’s principals have invested and overseen in excess of £4.0 billion of real estate. Hobart has originated, structured, and realised over £500 million of UK commercial property investments.
Beyond investment, Hobart brings deep development and value-creation capability, including planning gain, asset repositioning, and ground-up delivery. Our track record… spans offices, retail & living sector, executed with institutional discipline and an opportunistic mindset.
Leadership
Guiding Vision, Proven Expertise, Exceptional Results
Sas Bhadra
Sas has over 25 years of experience in the UK real estate market. He has originated, underwritten, executed, and asset-managed transactions exceeding £2.5 billion across offices, retail parks, hotels, and residential.
His career began in corporate finance at a Big Four accountancy firm. He later held senior positions at Kildare Partners, a real estate special situations investor, and at Pradera, a European retail investment manager. Earlier in his career, Sas also worked at Lendlease and Capital & Counties (Capco), gaining experience across large-scale development and complex urban assets.
Sas is recognised for his ability to source complex opportunities, structure creative capital stacks, and align institutional and private capital behind value-add business plans. He maintains deep relationships across lenders, operators, and institutional investors.
Richard Gore
A member of the Royal Institution of Chartered Surveyors, Richard has held senior leadership roles across leading retail and investment platforms. His career includes serving as Executive Director at Savills Investment Management, Joint Managing Director at Pradera, where he established the UK business and created three major retail park portfolios totalling several million square feet, and Managing Director at Block Holdings, overseeing a club fund portfolio successfully sold to a major institutional investor in 2005.
Earlier in his career, Richard was Managing Director of Capital & Regional Retail Parks & Investments and Joint Founder and Managing Director of Lanham plc, which was sold to Capital & Regional in 1997. He began his career as a Director at Citygrove, focusing on development and investment in the UK retail and out-of-town sectors.
At Hobart, Richard focuses on sourcing, structuring and managing value-add and income-led retail and regional investment opportunities, leveraging his deep relationships and extensive sector experience to drive strategic growth and
Huw Griffiths
Huw brings over 35 years of experience in development and construction. He has secured planning consent for over 2 million sq ft of business space, 300,000 sq ft of retail, 3,000 homes, and 3,000 student beds, many of which he has delivered through to completion and exit.
He spent a decade at Mace, where he was instrumental in establishing its development business, originating and delivering projects worth more than £1.5 billion, including major city-fringe mixed-use and student/BTR schemes. Earlier in his career, Huw held senior positions at Goodman, Thames Water Property, and Ridge, giving him a broad perspective spanning both private and public-sector development.
Huw’s skill sets includes his ability to unlock planning gain, manage development risk, and oversee delivery of complex projects.
Strategic Transformation — Repositioning, planning, and operational enhancements to capture lasting value.
Capital Alignment — Co-investment structures and capital stacks designed for transparency, downside protection, and superior returns.
Sustainability as Value — ESG embedded at the outset; sustainable assets outperform in leasing, reversion, and exit multiples.
Tenant-Centric Management — Long-term performance built on tenant engagement, leasing discipline, and operational quality.
Development Expertise — Ability to originate, secure planning, and deliver complex projects across offices, retail & living sectors, from concept to exit.
Return Discipline — Targeting opportunities capable of delivering double-digit IRRs and strong equity multiples through repositioning, capital structuring, and well-timed execution.
Our Approach
A proven approach to repositioning, growth, and resilient performance
We focus on sectors where fundamentals, structural change, and mispricing create opportunities for value creation. Our conviction themes are underpinned by research-driven investment, active management, and capital discipline.
High-Conviction Themes
London & Regional Offices
Supply-constrained assets that are under-managed or in need of repositioning, where leasing, refurbishment, and sustainability-led upgrades can unlock significant value.
Out-of-Town Retail
Resilient formats where granular leasing, tenant remixing, and pod developments can deliver sustainable income growth.
Regional Hotels
Under-capitalised assets in leisure and city markets, repositioned through operational enhancement and brand partnerships.
Selected Transactions
From London offices to regional retail and hotel assets, our case studies highlight how targeted interventions—planning, leasing, operational enhancements, and sustainability-led upgrades—translate into tangible results. These examples reflect our commitment to unlocking opportunity, mitigating risk, and achieving superior returns.
Fetter Yard, London EC4
(co-investment with Large European Fund, 2016)
101,000 sq ft Grade-A office near Chancery Lane. ESG-led refurbishment achieving BREEAM Very Good and EPC B. Fully leased to global tenants.
The repositioning captured significant rental reversion and enhanced liquidity through improved sustainability credentials.
Worship Square, London EC2
(co-investment with UK PE Fund, 2017)
54,000 sq ft Shoreditch office repositioned through planning into a Net Zero, BREEAM Outstanding, WELL Platinum scheme. Exited 2020, achieving superior risk adjusted returns.
This project showcased the value of planning-led repositioning in a growth submarket, delivering an exemplar in sustainability and wellness standards. Timing of the exit ahead of the pandemic further underlined disciplined execution and opportunistic judgement.
The Mark, London EC3
(JV with Large Global Fund, 2022)
105,000 sq ft under-managed office repositioned into a 350,000 sq ft Net Zero flagship. Planning secured 2023. Construction scheduled to commence in 2026.
The scheme will deliver one of the City’s largest Net Zero developments, with circular economy principles embedded throughout. Pre-letting strategies and anchor tenant engagement are underway, ensuring strong forward momentum.
Retail Warehouse Portfolio, UK-wide
(co-investment with Large European Fund, exited 2024–25)
A portfolio of four under-managed retail parks totalling c.0.5m sq. ft amassed between 2020 and 2021. The strategy focused on leasing upgrades, tenant remixing, planning initiatives, and pod developments, alongside operational efficiencies to reposition the assets for institutional ownership.
Following active asset management and selective capex deployment, the portfolio was successfully exited during 2024–25, delivering superior risk-adjusted returns. The project demonstrated Hobart’s ability to execute a portfolio aggregation, deliver income growth, and crystallise value through timing of exit.
Contact
Get in touch with Hobart Capital Partners to explore investment opportunities, strategic partnerships, or any enquiries. Our team is ready to provide expert guidance and insights to help unlock the full potential of your real estate assets.
Hobart Capital Partners
37–41 Mortimer Street
London, W1T 3JH
United Kingdom
Email: sbhadra@hobartcp.com
Phone: +44 7834 519 825
Email: rgore@hobartcp.com
Phone: +44 7778 052 252