Bedell Cristin advises Welput on UK’s largest all-electric net-zero office development in Victoria
31 March 2022
Bedell Cristin has advised BentallGreenOak, manager of West End of London Property Unit Trust (Welput) property fund and 105VS Unit Trust (105VSUT), in connection with the £1bn development of the UK’s largest all-electric net-zero carbon office scheme at 105 Victoria Street in central London.
The firm advised Welput and 105VSUT on the equity co-investment by three institutional investors and a £400 million debt finance facility to fund the development. Scheduled to commence later this year, the new 470,000 sq. ft. development will be the largest speculative office scheme to come forward since the pandemic and is in alignment with Welput’s sustainable investment strategy.
Bedell Cristin's team, working alongside Norton Rose Fulbright, was led on both the co-investment and financing aspects by partner, Bruce Scott and associate, Nkechi Hokstad, with further transactional support provided by associates Daniel McAviney and Liam Hicks.