Burges Salmon advises on £47.5m financing for sustainable London office redevelopment

Our Built Environment sector team has advised Original Works, a new platform sponsored by Invesco Real Estate and Simten Developments, on securing a £47.5 million loan investment from Redevco to finance the redevelopment of 10 Salisbury Square in the City of London.

The facility will fund the acquisition and refurbishment of a 56,000 sq. ft office-led project at 10 Salisbury Square. The project includes a comprehensive retrofit and extension of the existing property, transforming it into Grade A office space with top-tier sustainability credentials, including EPC A and BREEAM Outstanding ratings. The facility is structured as a Green Loan in accordance with the Loan Market Association (LMA) Green Loan Principles.

Burges Salmon’s Banking and Finance team advised Original Works on the financing, led by partner Rohan Campbell, director Tom Farrell and associate Georgia Bew.

Rohan comments: “It has been a pleasure to work with Original Works on this bespoke financing solution and support their vision to create high-quality sustainable office spaces. The deal exemplifies our ability to navigate complex financing structures and deliver tailored solutions that meet our clients’ strategic goals.”

Mike Rayner, at Original Works adds: “We really enjoyed working with Burges Salmon on this transformative project. The team’s expertise, responsiveness and approach were invaluable in helping us secure the necessary financing for our first acquisition for Original Works to deliver sustainable and future-ready office space in the heart of London.”

Burges Salmon’s Banking and Finance team handles complex financing transactions for clients on both a UK and cross-jurisdictional basis, acting for some of the world’s largest banks, building societies and over 50 financial institutions, alongside numerous PLCs and large corporate clients globally. The team is particularly active within the firm’s Built Environment sector group, providing strategic and practical legal advice on financing, and investing in, all forms of UK property.