White Rose Park in Leeds has secured £67m in funding from Lloyds Bank to enhance its sustainability.
The move comes shortly after Immobel Capital Group’s new investment management arm bought a 50% stake from Orion Capital Managers’ OIRP Investment 10. The park is now owned in a joint venture with asset manager Munroe K, which is led by founder David Aspin.
The park has a lettable area of more than 500,000 sq ft across nine buildings. It is around 98% let to organisations including DAZN, HSBC, Capita, Telefónica and education and government tenants including the Gorse Academies Trust, the NHS and the Police and Crime Commissioner for West Yorkshire.
Under the financing deal, the partners are set to achieve an overall minimum EPC A rating and a BREEAM Excellent certification for all new and refurbished areas in the park.
Proposals also include installation of 150 electric vehicle charging points by 2027, representing a sixfold increase in available charging infrastructure at the site.
David Aspin, chief executive of Munroe K, said: “As our tenants set increasingly ambitious sustainability goals, they need a workspace that will help them to achieve this. Our investment in this upgrade will meet those needs and, with the opening of White Rose railway station coming soon, it will also further improve commuting options for their employees as well as access to new talent.”
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