HB Reavis has secured a £106m real estate investment green loan from HSBC UK following completion of the 140,000 sq ft Worship Square office scheme in London.
The building’s predicted base energy use intensity (EUI) is 52 kWh/m²/year (NIA), approximately 25% below the UK Green Building Council’s target for 2025 to 2030, and its upfront carbon emissions are 480 kg CO₂/m² – more than 50% lower than the LETI 2020 baseline for office buildings and about 20% below the GLA’s aspirational target – which qualifies it for a green loan.
HB Reavis will use the funding to refinance its development finance facility, allowing the company to invest in future sustainable projects.
Steven Skinner, CEO of HB Reavis Development, said: “At HB Reavis, we’re committed to developing low carbon, future-proofed workspaces with a clear focus on wellbeing to help our customers thrive. Our long-term relationship with HSBC UK has enabled us to successfully refinance Worship Square. This supports our growth plans to continue building sustainable developments of the future in key European cities.”
Alan Knight, relationship director at HSBC UK, added: “We were thrilled to build on our relationship with HB Reavis with this latest refinance. In addition to its sustainability credentials, Worship Square features one of the first affordable workspaces in Hackney. We look forward to seeing more of these developments as HB Reavis expands its footprint across Europe.”
HSBC UK was advised by Eversheds and Savills.
