Investec scores with £45 million Quintain office loan in Wembley
Investec Real Estate (“Investec”) has announced that it has provided Quintain, the 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.
The loan refinances an existing facility and represents the first transaction between Investec and Quintain.
It demonstrates Investec’s strong conviction in both well-connected, highly amenitised offices that put tenant health and wellbeing at their centre and London’s continued position as Europe’s pre-eminent financial and cultural hub.
Completed in 2019, The Hive comprises 115,000 sq ft of state-of-the-art office space across nine floors, of which Casio occupies 10,000 sq ft and Network Homes currently occupies 54,000 sq ft, along with 10,000 sq ft of ground floor retail space.
The building features in-demand three- metre floor to ceiling heights and a wide range of amenities including concierge service, bike storage, lockers and showers.
The highly sustainable building boasts a BREEAM ‘Excellent’ certification and is WiredScore Certified Gold.
Adjacent to the iconic Wembley Stadium, The Hive occupies a prominent position in Wembley Park, Quintain’s 85-acre mixed-use regeneration site.
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.
Jonathan Long, Head of Corporate Lending at Investec Real Estate, commented:
“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.
“This transaction is the latest example of the Investec’s ability to provide blue-chip counterparties with bespoke funding solutions, structuring a facility that will support Quintain as it achieves full occupancy at the sought-after scheme.
At the same time, it increases our exposure to the London office market, where we retain a strong conviction, specifically for Grade-A assets with the highest sustainability credentials.”
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.”