£100m backs next stage of city’s biggest ‘green’ offices
HFD Property Group, the commercial property and investment company, has agreed a £100 refinancing package from HSBC to fund the next stage of its flagship development in Glasgow.
The offices at 177 Bothwell Street are already expected to meet the highest ‘green’ credentials on energy performance and have attracted blue chip occupiers Virgin Money, BNP Paribas, AECOM, CBRE, and Transport Scotland.
Smart technology will be used throughout the the 313,000 sq ft building to reduce energy consumption and improve environmental performance, while its energy will be supplied by Blantyre Muir Wind Farm in South Lanarkshire, ensuring it is 100% renewable and from an identified local source.
There are 318 cycle spaces, electric vehicle charging points, and touchless technology throughout the building in keeping with new hygiene demands.
Stephen Lewis, MD of HFD Property Group, said: “177 Bothwell Street is an exceptional asset and, with our initial development funding package set to expire, we took the opportunity to find partners who could fund the development’s next stage.
“Given the property’s quality and sustainability credentials, interest was strong among the potential funders we spoke to.”
He said the HSBC deal will provide the correct balance between long-term funding and flexibility.
“We look forward to taking 177 Bothwell Street to the next stage of its development with HSBC UK, with the building almost fully let,” he said.