Bourne Capital secures £132m funding deal
Bourne Capital has secured a £132m refinancing deal with Aviva Investors to fund its Queensway and Waterloo Estate redevelopments in London.
The 10-year, fixed-rate loan at around 40% LTV will be used to reposition Bourne’s legacy portfolio, which comprises estates at Queensway, next to Hyde Park, W2, and on Waterloo Road, SE1. It will also enable other future investment opportunities, the company said.
Bourne is working on a £40m redevelopment programme at Queensway Estate to deliver a new urban quarter, with a mix of shops, offices, homes and public spaces.
Bourne Capital has secured a £132m refinancing deal with Aviva Investors to fund its Queensway and Waterloo Estate redevelopments in London.
The 10-year, fixed-rate loan at around 40% LTV will be used to reposition Bourne’s legacy portfolio, which comprises estates at Queensway, next to Hyde Park, W2, and on Waterloo Road, SE1. It will also enable other future investment opportunities, the company said.
Bourne is working on a £40m redevelopment programme at Queensway Estate to deliver a new urban quarter, with a mix of shops, offices, homes and public spaces.
Meanwhile, at Waterloo, Bourne is looking to secure planning consent for a partial redevelopment of its holdings, which could include more than 250,000 sq ft of office and retail development.
Ben Bourne, managing director of Bourne Capital, said: “We are delighted to have partnered with Aviva Investors, which shares our long-term vision for the estates. With the benefit of long-term fixed rate facilities, the business is in a strong position to realise its potential as well as capitalise on new investment opportunities over the next two-three years.”
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