{"id":49920,"date":"2018-12-06T11:22:35","date_gmt":"2018-12-06T11:22:35","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=49920"},"modified":"2018-12-06T11:22:35","modified_gmt":"2018-12-06T11:22:35","slug":"worlds-greenest-office-buildings","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/energy-news\/worlds-greenest-office-buildings\/49920\/","title":{"rendered":"Loan secured for the world\u2019s greenest office buildings"},"content":{"rendered":"<figure id=\"attachment_49925\" aria-describedby=\"caption-attachment-49925\" style=\"width: 517px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-49925 size-full\" src=\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2018\/12\/Loan-secured-for-the-worlds-greenest-office-buildings.jpg\" alt=\"Green Loan Principles, office buildings,\" width=\"517\" height=\"344\" srcset=\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2018\/12\/Loan-secured-for-the-worlds-greenest-office-buildings.jpg 517w, https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2018\/12\/Loan-secured-for-the-worlds-greenest-office-buildings-300x200.jpg 300w\" sizes=\"auto, (max-width: 517px) 100vw, 517px\" \/><figcaption id=\"caption-attachment-49925\" class=\"wp-caption-text\">An artist\u2019s impression of the development.<\/figcaption><\/figure>\n<h2>UK property developer <a href=\"https:\/\/www.argentllp.co.uk\/\">Argent<\/a> has secured a \u00a3400m loan facility on behalf of the King\u2019s Cross Central Limited Partnership (KCCLP) to support the development of two of the world\u2019s greenest office buildings<\/h2>\n<p>This financing \u2013 from <a href=\"https:\/\/www.wellsfargo.com\/\">Wells Fargo<\/a>, <a href=\"https:\/\/www.hsbc.co.uk\/\">HSBC UK<\/a> and <a href=\"https:\/\/helaba.com\/\">Helaba<\/a> \u2013 represents the first loan provided for an office development in the UK that meets the Green Loan Principles, drawn up by the EMEA and Asia Pacific Loan Market Associations in March 2018.<\/p>\n<p>The Green Loan Principles require the recipient project to be one that reduces emissions or the use of scarce natural resources or energy usage. The 68,085m<sup>2 <\/sup>development will meet a number of internationally recognised energy efficiency standards and will become home to Facebook\u2019s new UK headquarters.<\/p>\n<p>Built on a <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/could-2018-be-the-tipping-point-for-brownfield-sites\/39380\/\">brownfield site<\/a>, the buildings will include 4,300 m<sup>2 <\/sup>of restorative green roof that combines biodiverse wildflowers and ornamental grasses to form an important green corridor for local wildlife.<\/p>\n<p>Both buildings will have at least a 50% lower carbon footprint than a typical office, largely through the supply of heat and cooling from the innovative <a href=\"https:\/\/www.kingscross.co.uk\/energy-centre\">King\u2019s Cross Energy Centre<\/a> and district cooling network. The Canal Reach offices will also be supplied electricity from what will be Europe\u2019s largest in-building hydrogen fuel cell.<\/p>\n<p>Additionally, the carbon content of every material used in the construction of the Canal Reach building is being assessed with an aspiration for it to become the office with the lowest carbon footprint in London.<\/p>\n<p>Michael Lightbound, Chief Financial Officer at Argent, said: \u201cAt King\u2019s Cross we have delivered more <a href=\"https:\/\/www.pbctoday.co.uk\/news\/energy-news\/breeams-uk-new-construction-2018-scheme-to-go-live\/39156\/\">BREEAM<\/a> Outstanding office buildings than any other developer globally.<\/p>\n<p>\u201cWe are delighted that the King\u2019s Cross project, which has been at the forefront of sustainability over the last 15 years, has now secured the UK\u2019s first Green Loan Principles loan for the development of an office building.<\/p>\n<p>\u201cIt seems very fitting this has been achieved on the back of the Facebook letting which in itself is of massive significance to King\u2019s Cross and also the UK. This Green Loan has only been made possible as a result of the fantastic long-term support we receive from our funding partners.\u201d<\/p>\n<p>Stacey Flor, co-head of Origination at Wells Fargo CRE UK, commented: \u201cIn keeping with Wells Fargo\u2019s commitment to sustainability, we are delighted that Wells Fargo acted as the co-mandated lead arranger and agent for this facility.<\/p>\n<p>\u201cOur financing will support Argent\u2019s further development of King\u2019s Cross Central by funding two outstanding sites on the estate. At Wells Fargo, we are committed to deepening our relationships with our customers, and as a long-standing client, we are pleased that our financing to Argent will complement the sustainable credentials of the area.\u201d<\/p>\n<p>David Stephens, HSBC UK\u2019s Head of Corporate Real Estate in London, said: \u201cThis loan establishes Argent as the first amongst its peers in the field of green commercial property development in the UK. Our clients are telling us sustainability is important to them; we can now support them with our dedicated Green Loan proposition.\u201d<\/p>\n<p>Richard Bentley, Helaba\u2019s Head of UK Real Estate, added: \u201cWe are extremely pleased to be part of this important transaction which underlines our continued support for Argent and more widely our commitment to the UK Real Estate market with a facility that reflects Helaba\u2019s sustainability values.\u201d<\/p>\n<p>The two new office buildings have started on site and form part of the 67-acre King\u2019s Cross estate majority owned by Australian Super alongside Hermes and Argent, transforming what was an underused area into a new part of the city with homes, shops, offices, galleries bars, restaurants, schools and a University.<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>UK property developer Argent has secured a \u00a3400m loan facility on behalf of the King\u2019s Cross Central Limited Partnership (KCCLP) to support the development of two of the world\u2019s greenest office buildings.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[307],"tags":[594,676,430,283,465],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-49920","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-energy-news","7":"tag-building-design","8":"tag-construction","9":"tag-energy-efficiency","10":"tag-finance","11":"tag-sustainable-construction"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Loan secured for the world\u2019s greenest office buildings<\/title>\n<meta name=\"description\" content=\"Argent has secured a \u00a3400m loan facility on behalf of the KCCLP to support the development of two of the world\u2019s greenest office buildings\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/energy-news\/worlds-greenest-office-buildings\/49920\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Loan secured for the world\u2019s greenest office buildings\" \/>\n<meta property=\"og:description\" content=\"UK property developer Argent has secured a \u00a3400m loan facility on behalf of the King\u2019s Cross Central Limited Partnership (KCCLP) to support the development of two of the world\u2019s greenest office buildings\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/energy-news\/worlds-greenest-office-buildings\/49920\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building &amp; 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