Hotel Conversions
Transform underperforming hotels into high-yield residential or mixed-use developments.
40-80% Uplift · IRR 18-28%
DISCIPLINED COMMERCIAL PROPERTY DEVELOPMENT
Undervalued Commercial Property. Institutional Discipline.
We acquire, reposition, and exit undervalued UK commercial assets, applying institutional discipline to deliver risk-adjusted returns for a select group of investors and partners.
What We Do
Commercial Property Expertise
Four specialist disciplines. Deep expertise in each. Institutional outcomes on every project.
Office Conversions
Convert vacant commercial offices into premium apartments via permitted development rights.
50-70% Uplift · IRR 20-30%Value Enhancement
Strategic planning and asset management to unlock hidden value in commercial holdings.
15-35% Value IncreaseAirspace Development
Unlock rooftop and airspace value on commercial assets in constrained urban markets.
Revenue Share Models AvailableTrack Record
Selected Projects
A consistent record of delivering institutional-grade returns.
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Hotel ConversionCompletedHammersmith Hotel Conversion
Acquisition and conversion of a 120-room underperforming hotel into 48 premium residential apartments and 4 co...
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Office ConversionCompletedCity of London Office Conversion
Grade B office building converted to 62 premium apartments across 8 floors. Sold to institutional investor on ...
Our Approach
Precision Over Volume.
We do not pursue deal flow for its own sake. Every project must clear a disciplined underwriting threshold before we commit.
01
Downside First
We underwrite every deal from the downside up. Before we model the upside, we stress-test each project against cost overruns, void periods, and exit risk, and we walk away when the numbers do not hold.
02
Alignment of Interests
We align with our partners on every deal. On some projects we co-invest our own capital; on others we bring our expertise and network to grow our partners' capital. Either way, our success is measured by the returns we deliver, not by fees.
03
Transparent Reporting
Our investors receive clear, regular reporting on performance, risks, and milestones. Capital stacks and sponsor economics are defined up front, so you always know where your money sits and how it is working.
Latest Insights
News & Commentary
Commercial property analysis from the Elsham Properties team.
Maximising Returns with Property Development Finance in the UK: Expert Strategies for 2026
Expert strategies for maximising returns with UK property development finance in 2026, cash flow, joint ventures, layered funding, exit planning, and region-specific opportunities.
Read more →The Case for Commercial-to-Residential Conversion in 2024
With office vacancy rates at record highs and housing demand unabated, the opportunity has never been stronger.
Read more →Ready to Review a Live Opportunity?
We work with a small number of investors on each deal. If you are a qualified investor seeking direct commercial property exposure, we welcome a conversation.