Burges Salmon advises on landmark financing for UK’s first Net Zero Carbon hotel

Independent UK law firm Burges Salmon has advised a private banking and wealth management bank on a landmark refinancing of the development costs of the vocoZeal Hotel, the UK’s first branded Net Zero Carbon hotel.

Located in Exeter Science Park, vocoZeal is the result of a £22 million project to create a 100% electric hotel, with the UK’s first vertical photovoltaic cladding system generating more solar energy each year than the building consumes. Innovations in the design and construction mean the 142-bedroom hotel is operating with industry-leading and benchmark-setting Energy Use Intensity levels, a critical measure set to define building sustainability in the decades to come.

Advising the lender on the one-of-a-kind project was Burges Salmon’s Banking and Finance team, led by partner Katie Allen, senior associate Samir Younes and paralegal Aarya Sinha. Director Will Hall and senior associate Simon Dempster also provided real estate expertise, and leading on construction advice were director Nia Stewart, associate Elizabeth Darley and solicitor Joanna Rogers.

Katie Allen comments: “It has been incredibly rewarding to work on the financing of the vocoZeal Hotel, a pioneering project that sets new standards for sustainability in the hospitality industry. We are proud of our role in enabling such an innovative development at the heart of the South West.”

Burges Salmon’s Hotels team specialises in advising hotel owners, operators, investors and lenders on a wide range of legal issues, from acquisitions and disposals to management agreements and operational matters. The firm’s Built Environment sector group provides comprehensive legal services across all aspects of the built environment, including real estate, construction, planning, and environmental law.