Property developer Argent has obtained a £400m ‘green loan’ facility from Wells Fargo, HSBC and Helaba to develop two office buildings.
The premises will be located on the 67-acre King’s Cross estate, which is majority owned by superannuation and pension fund AustralianSuper, alongside Hermes and Argent.
The loan was granted in line with environmental requirements that will require Argent to limit carbon emissions, natural resources or energy usage.
Both buildings will have at least a 50% lower carbon footprint than a typical office.
They will also have 46,285 sq ft of “restorative green roof space”.
Michael Lightbound, chief financial officer at Argent, said: “It seems very fitting this has been achieved on the back of the Facebook letting, which in itself is of massive significance to King’s 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.”
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