lnvestec Real Estate has provided Quintain, a leading mixed-use developer and major regeneration specialist, with a £45 million investment facility secured against The Hive, a Grade-A office building in Wembley Park, London.
The loan refinances an existing facility and represents the first transaction between the two companies.
Completed in 2019, The Hive comprises of 10 684m2 of state-of-the-art office space across nine floors, of which Casio occupies 929m2 and Network Homes occupies 5 017m2, along with 929m2 of ground floor retail space. The building features in-demand three metre floor to ceiling heights and a wide range of amenities including service, bike storage, lockers, and showers. It also boasts a BREEAM ‘Excellent’ certification, and it is WiredScore Certified Gold.
Adjacent to the iconic Wembley Stadium, the building occupies a prominent position in Wembley Park, Quintain’s 85-acre mixed-use regeneration site which is home to 4 000 office workers. It benefits from excellent transport connectivity via London Underground and mainline rail connections located at opposite ends of the site.
“This is our first deal with Quintain, which has spearheaded the transformation of Wembley Park over the last 20 years, delivering world-class office, residential and retail space to complement the area’s unrivalled sports and music provisions”, commented Jonathan Long, Head of Corporate Lending at Investec Real Estate.
Philip Slavin, Chief Financial Officer at Quintain, added: “Completing our latest funding round with Investec is a significant endorsement for all we have achieved at Wembley Park, an incredible piece of London and one of Europe’s largest and most exciting urban transformation projects. We are particularly proud of The Hive building and have been thrilled with how well it has been received by its new occupants.”