Month: June 2022
27 June 2022
100 Fetter Lane Scheme features in REACT News
Cain writes £86m development loan for Fetter Lane scheme | by James Buckley
Loan will help fund BauMont and YardNine’s Edenica
What Cain has provided an £86m loan secured against 100 Fetter Lane
Why The loan fully funds the 95,000 sq ft office project
What next The scheme is due for completion in Summer 2024
Cain International has written an £86m development loan to BauMont Real Estate Capital and YardNine for the development of 100 Fetter Lane, React News can reveal.
The 95,000 sq ft London office project, known as Edenica – a reference to the outdoor spaces which form part of the scheme – was bought by BauMont in January 2021 with development partner, YardNine.
The building received planning consent in September 2021 for the delivery of a new 12-storey development, with over 8,000 sq ft of roof gardens, and a new pedestrian route and garden square at ground level.
The project is targeting the highest environmental standards of BREEAM Outstanding, WiredScore, SmartScore and WELL certifications.
Construction work has commenced on site and the scheme is due for completion in Summer 2024.
Tanja Yerolemou-Ennsgraber, senior vice president – real estate finance at Cain International, said: “The project embraces the needs and desires of the future occupier, being mindful about their experience and bringing it to the fore.”
Damien Pasini, director at BauMont Real Estate Capital, added: “Following the receipt of planning permission last year, securing development financing is another significant milestone for 100 Fetter Lane. We look forward to working with Cain and YardNine to deliver a highly sustainable and innovative workplace in one of Central London’s most vibrant submarkets.”
BauMont was advised by BCLP and Cain International by Taylor Wessing, Savills and CBRE.