Bruntwood has secured a £140m sustainability-linked loan to cover its £240m workspace portfolio.
The agreement has seen the firm’s existing £50m club bank facility – a consortium of HSBC UK, NatWest, Santander and Barclays – increase to £140m and extend by a further 12 months to early 2028. HSBC UK acted as the sustainability co-ordinator and NatWest acted as the agent.
Bruntwood intends to further invest in its portfolio and will use the loan to provide even more workspaces.
Rachel Brunt, chief financial officer at Bruntwood, said: “Given our long-standing commitment to helping the UK to reach a net zero future, it’s fantastic to now see our financing facility align with these ambitions. Through the changes to our loan, we now have even more momentum to help us deliver forward-thinking, future-proofed assets fit for the workforce of tomorrow.
“We also know that ESG is only becoming more important to our customers, so this agreement is a clear sign to them that we are with them on their own sustainability journeys, and we will be here to support them along the way.”
Andy Clarke, director, real estate finance at NatWest, added: “NatWest are pleased to be providing our continued support to Bruntwood with this latest sustainability linked loan package. Bruntwood continues to invest in its workspaces, which is becoming increasingly important for businesses, and this funding package will support their future plans.”
Matt Jones, senior director, real estate finance at Santander UK, said: “We are delighted to support Bruntwood in its sustainability journey, as the firm develops its portfolio of projects and moves towards its 2050 net zero targets. We look forward to continuing working with the Bruntwood team going forward.”
Robert King, UK head of commercial banking sustainability, HSBC UK, added: “This transaction re-affirms Bruntwood’s commitment to sustainability and demonstrates the various ways in which Bruntwood are enhancing the energy efficiency of their portfolio. The built environment plays a critical role in the UK achieving net zero by 2050, and we are proud to have acted as the sustainability co-ordinator and support this transaction.”
Jason Constable, head of real estate for Barclays Corporate Banking, said: “We are delighted to have increased our support to Bruntwood through this sustainability-linked loan. We are focused on helping businesses invest for growth, and deals like this are key as we look to continue backing clients in the North West and across the UK.”
