TSP Celebrates 15 Years: Q&A With Zac Goodman, Founder & CEO

This year celebrates TSP’s 15th Birthday. Co-founded by Zac Goodman in 2009, the business emerged as the world was recovering from the Global Financial Crisis. The City was bouncing back, and TSP wanted to be part of that story.

TSP stands for ‘Third Sector Property’. Back in 2009, our business was founded to help charities save money on real estate. Today, TSP has grown and diversified into a multi-award-winning Asset & Property Management business. We manage £2 billion in assets and oversee 2.1 million+ square feet, with clients including Hyundai, Pizza Hut, and Investec.

We are still proud to be the UK’s leading not-for-profit property advisor and have worked with over 250 organisations.

Zac Goodman shares the secrets behind longevity in business, what makes TSP a standout player in the market, plus his ambitious future goals.

TSP celebrates 15 years this year. That’s an impressive milestone: what’s the secret to your longevity?

Accept change as a constant and build your company around that philosophy. In business attack is the only form of defence, you must stay nimble, innovate, and accept that it’s a competitive sport. We’ve never been afraid to reinvent ourselves – in fact our clients and investors rely on that attribute.

What sets TSP apart from other players in the property industry?

I think we’re outsiders, which has advantages and disadvantages. It was harder to achieve market share at first, but our viewpoint is more worldly – its given us the ability to question and test the status quo in a compelling way, which our client base has fully bought in to. I think our values and approach is very unique because of this.

Looking back, what was one standout deal or achievement that was pivotal in TSP’s history?

Winning Addaction (now We are With You). It was our first large portfolio, and it transformed us from a start-up to a real company. It forced us to invest in people and processes and gave us scale to do more.

Looking ahead, what are your goals for TSP in the next 5 to 10 years?

We are now in scale up mode. In Property & Asset Management you hit a certain size where there is real benefit for all stakeholders to grow – TSP is at that point. Our goal is to grow TSP 4-5x over the next 5 years. This will create immense value for our clients, and of course our people. I sense our clients are jaded by the structure of the market; the big houses have become too big. There is very little mid-size offering, and TSP intends to fill that gap in the market.

Can you name a building from the last 15 years that encapsulates the spirit and values of TSP?

Ooof – tough question. There are many, and each reflects their time and place. Pear Tree Court was certainly one of them. Our first co-investment deal – we were fast, creative and made a great profit! Our more recent projects such as 30 Lighterman, 79 Clerkenwell & 60 Ironmonger also stand out – they reflect the changing marketplace, and how we’ve responded to that. Bit of a wishy washy answer – but it’s like choosing between your children!