Investec Real Estate has provided regeneration specialist Quintain with a £45 mln (€54 mln) investment facility secured against The Hive, a Grade-A office building in Wembley Park, London.
The loan refinances an existing facility and represents the first transaction between Investec and Quintain.
Completed in 2019, The Hive comprises 115,000 sq ft (10,680 m2) of state-of-the-art office space across nine floors, of which Casio occupies 10,000 sq ft and Network Homes currently occupies 54,000 sq ft, along with 10,000 sq ft of ground floor retail space.
The building features in-demand three- metre floor to ceiling heights and a wide range of amenities including concierge service, bike storage, lockers and showers. The highly sustainable building boasts a BREEAM ‘Excellent’ certification and is WiredScore Certified Gold.
Jonathan Long, head of Corporate Lending at Investec Real Estate, commented: ‘This is our first deal with Quintain, which has spearheaded the transformation of Wembley Park over the last 20 years, delivering world class office, residential and retail space to complement the area’s unrivalled sports and music provisions.'
He added: ‘This transaction increases our exposure to the London office market, where we retain a strong conviction, specifically for Grade-A assets with the highest sustainability credentials.’
