Hertford Birch, a specialist energy consultancy for the real estate sector, has launched today March 24th), to provide strategic advice and brokerage services to help landlords and operators commercialise power across their assets.
Operating UK-wide, Hertford Birch is a delivery partner for electric vehicle (EV) charging projects and energy deals, to help capture the unrealised potential for income generation from energy in any commercial space.
As demand for electrification continues to accelerate, Hertford Birch brings together significant real estate expertise and EV operations experience to help landlords unlock profitable and risk-managed long-term revenue from power. Hertford Birch is also a strategic advisor helping landlords navigate increasingly complex supply challenges to minimise connectivity and capacity risks for new and existing sites across the country.
Backed by investment firm Spire Ventures, Hertford Birch is co-founded by Richard Price and Ben Smith, EV and energy commercialisation experts with deep roots in the real estate sector. The pair have over 20 years of collective experience serving major institutions and landlords across retail, leisure and commercial assets, while first-hand operational experience of working with UK-based charge point operators includes Osprey, Connected Kerb and, most recently, as consultants at Syzygy.
Co-founder Richard Price said: “Demand for EV and energy infrastructure is far outpacing supply and this is true across all commercial asset types, presenting a prime opportunity for landlords and asset managers to secure attractive, long-term revenue streams from power. The market potential is huge, and we’re seeing unprecedented demand from landlords to help them navigate the complexities of pricing, process and operational challenges to integrate energy assets into their portfolios on deals that deliver stable, risk-mitigated income. In real estate terms, the energy deals that we’re able to secure today for unrentalised car parking bays can provide rental income consistent with, if not outperforming, that of a traditional F&B deal on the same site – and with significantly less risk and minimal capital contribution.”
The UK’s power networks are increasingly unable to meet the capacity demands across the built environment, for new developments and the repurposing of existing assets. Grid connection dates are now averaging 6.5 years from the moment of capacity approval and in some cases, delays could be up to 10 years. The National Energy System Operator (NESO) received 1,700 applications last year alone, more than it has ever received in a single 12-month period.
Co-founder Ben Smith added: “Landlords face hugely complex challenges in managing their energy assets and minimising connectivity or capacity risks. The energy supply gap is growing steadily as record numbers of organisations are engaging with the grid to secure power connections; struggling to keep up with demand for energisation projects across the UK, the grid connection queue can mean a 10 year wait. Securing reliable capacity with clarity on connection dates is today as critical to project timelines and feasibility as any other part of the construction or asset management programme. Working with private networks is an opportunity to significantly reduce operational cost and carbon footprint, as our clients look to us to help expedite the energisation of assets and optimise their energy infrastructure.”
Hertford Birch is backed by Spire Ventures, a London based private equity investment firm specialising in backing innovative, high-growth real estate businesses and visionary entrepreneurs.
Veer Mehta, investment manager at Spire Ventures, said: “Our partnership with Richard and Ben reflects our strategy of backing best-in-class management teams in key real estate growth sectors. Hertford Birch’s innovative approach, hands-on EV operator expertise and deep understanding of the real estate sector, and its sustainability focus align well with our investment philosophy. We back founders and businesses that are future-proofing the real estate industry; there is a significant gap in the market for specialist advisors to help investors maximise energy assets as a revenue generator across their portfolios, while enabling greater access to the energy infrastructure needed for a more positive and green future for real estate. We are confident Hertford Birch is well positioned to deliver significant value to asset owners and the broader market.”
Hertford Birch is currently instructed on EV charging and private networks commercialisation projects on behalf of institutional landlords, REITs, occupiers and private capital investors across retail parks, shopping centres and leisure assets, MSPs and industrial, logistics and commercial workspace sites UK-wide. Hertford Birch also advises on fleet charging and EHGVs as the large-scale electrification of commercial vehicle fleets continues to gain momentum, driven by retail and last mile demand, and boosted by Government subsidies. Adding strategic value to asset owners and fleet open storage sites, Hertford Birch integrates energy commercialisation into asset strategies and development plans, ultimately, to secure the revenue generation potential of EV.
