Global Holdings Group (GHG) has secured a £105m green loan from ING to finance the development of the Xylo office scheme in Clerkenwell.
The financing supports GHG’s redevelopment of 100 Grays Inn Road into an all-timber office building comprising 97,000 sq ft of Grade A office space across nine floors.
Xylo will also feature a 3,640 sq ft town hall space with bar, lounge and auditorium space, a 3,800 sq ft rooftop garden, five landscaped terraces offering uninterrupted views across London, a café/restaurant, in addition to cycle parking and shower facilities.
Samuel Ellis, head of UK real estate at ING, said: “This is the kind of project where sustainable finance genuinely matters. This financing supports a development that materially reduces carbon while delivering high quality workspace. That combination is rare and it’s exactly where we want to deploy capital.”
Josh Lawrence, chief executive of Global Holdings Management Group UK, added: “We are pleased to have completed this financing agreement with our trusted partners ING and follows our appointment of McLaren Construction to deliver this game-changing project. Xylo will showcase the most environmentally friendly technologies in a truly beautiful building, underpinned by a vibrant neighbourhood and abundant transport links making it the perfect workspace for leading international businesses.”
