Argent LLP has secures £126m facility on behalf of the King’s Cross Central Limited Partnership (KCCLP) from HSBC UK and Helaba to support the development of a mixed-use scheme at King’s Cross.
The funding will be used to deliver a purpose-built flexible office and professional community space, located between Handyside Street and York Way, and operated in partnership with The Office Group.
It will offer 170,000 sq ft of workspace to meet the needs of small businesses and start-ups.
Architecture studio, Piercy&Company, has designed the new building which is currently under construction and set to complete in 2024.
Funding for the project meets the Loan Market Associations’ green loan principles, which facilitates and supports environmentally sustainable economic activity, such as the reduction of emissions or energy usage, or a cut in the use of scarce natural resources.
The building is set to be built to a BREEAM ‘outstanding’ specification.
Main image: via Development Finance Today