Launcelot was founded in 1992 by Nic Byrom. Initially the firm focused on joint ventures and purchased a mixed portfolio of industrial and commercial properties which Nic rationalised and sold the majority of these holdings by 1995.

The company then concentrated on acquiring a substantial portfolio of London focused Grade B office space located in Grade B areas which were comprehensively refurbished to Grade A specification. Over time these areas became Grade A locations due to wider infrastructure enhancements and regeneration schemes. At one point Launcelot was the largest Landlord by tenant on Hatton Gardens. Due to concerns about the wider property approximately 70% of this portfolio was sold in 2006.

Launcelot re-entered the property market in 2009 and sought to further diversify its portfolio. It converted a number of commercial buildings into residential use, retaining some and disposing others, whilst also acquiring new office buildings. It also acquired a number of rental residential properties in Brixton and Acton and acted as the White Knight supporting leaseholders acquire their freehold via collective enfranchisements in Marylebone, Chelsea, Knightsbridge, St Johns Wood, Notting Hill and Southwark. Today Launcelot has either a freehold or long leasehold interest in over 560 flats in London.

During the pandemic Launcelot acquired a number of retail units in Exeter, Winchester and Guilford and also an industrial estate near Bournemouth. More recently Launcelot has entered the lending market providing short term finance including bridging, development and re-finance loans.