Yoo Capital acquires majority ownership interest in Shepherd’s Bush Market
Yoo Capital Investment Management (Yoo Capital), a joint venture between privately held real estate investment firm Yoo Capital, and Astarte Capital Partners, has acquired a majority ownership interest in Shepherd’s Bush Market from its Yoo Capital Fund II.
The acquisition sees Yoo Capital taking the controlling interest in Shepherd’s Bush Market, with Yoo Capital owning 75.5 per cent and U+I 24.5 per cent of the new partnership.
Originally established in 1914, Shepherd’s Bush Market is one of London’s most historic and well-known markets. Each year it welcomes visitors from around the world, drawn by its character, charm and reputation for textiles and high-quality goods. The market is situated in West London, between its namesake underground station and Goldhawk Road, and neighbours the White City regeneration area and Westfield London. The site involves a total of 4.2 acres, including adjoining land available for a mixed-use development with affordable housing.
Led by in-house private equity, asset and development management teams, and with significant place-making experience, Yoo Capital invests in assets in edge of prime and infill locations, creating institutional-quality mixed use, real estate assets, predominantly in Central London.
John Hitchcox, Yoo Chairman, says: “We are excited to be entering into a new era with Shepherd’s Bush Market. The last few months have taken their toll on businesses large and small and we look forward to investing in the market and the wider area to ensure that they come back stronger than ever.”
Lloyd Lee, Managing Partner at Yoo Capital, says: “We are delighted to complete the acquisition of a majority ownership interest in Shepherd’s Bush Market. The market is a well-loved London landmark and we are excited to work with the traders, community and London Borough of Hammersmith Fulham to protect and celebrate the unique heritage and character of the market and further invest in it and the local area.”
U+I, the specialist regeneration developer and investor, will maintain a minority interest in Shepherd’s Bush Market.
Richard Upton, Chief Development Officer, says: ““Yoo Capital has significant place-making experience and is the right partner to accelerate the regeneration of Shepherd’s Bush Market, working closely with the local community and stakeholders to invest in supporting and enhancing this cornerstone of west London culture.”