HVB Real Estate Capital is to forward-fund a range of Castlemore Securities office schemes in Bristol, Slough and Basingstoke with a £78.5m further loan.
Castlemore Securities plans to construct three buildings at Temple Quay, Bristol: a 6,300 sq m (68,000 sq ft) prelet to BT, a 2,800 sq m (30,000 sq ft) prelet to Regus and a 6,000 sq m (69,000 sq ft) prelet to HM Customs & Excise.
In Slough, it will speculatively develop the 6,224 sq m (67,000 sq ft) Salamanca building and in Basingstoke it proposes the 11,612 sq m (125,000 sq ft) refurbishment of the former Gateway House, to be known as Belvedere.
Castlemore chairman Grahame Whateley said: “We are delighted to receive this further vote of confidence from HVB which follows the £56.7m development loan and £85m investment facility which we announced last year for Temple Quay and Greenfell Island, Maidenhead.”
Legal adviser for Castlemore is Wragge & Co, while Allen & Ovrey is advising HVB.
Castlemore has a portfolio of more than 15 office, retail and leisure schemes worth over £1bn under construction or with consent across the UK.
EGi News 11/10/00
