Glasgow’s largest office building goes green with £100 million refinancing - and will have a running track on the roof
Glasgow’s largest single office building has been refinanced after a “green loan” facility was agreed.
Commercial property and investment company HFD Property Group said it had agreed terms with HSBC UK to refinance its flagship 177 Bothwell Street development.
The green loan facility, providing funding in excess of £100 million, requires the vast building to continue to meet a range of sustainability targets.
Developers have committed to achieving an Energy Performance Certificate (EPC) A score of less than eight - making it 45 per cent more energy efficient than a standard A-rated building.
Smart technology will be used throughout the building to reduce energy consumption and improve environmental performance, while its energy will be supplied by Blantyre Muir Wind Farm in South Lanarkshire.
The development will also feature a rooftop terrace and running track, 318 cycle spaces, electric vehicle charging points and touchless technology throughout the building.
An independent economic impact assessment suggested that the 313,000-square-foot development will generate £2.8 billion of gross value added (GVA) to the Scottish economy over 25 years.
The building’s occupiers include Virgin Money, BNP Paribas, Aecom, CBRE and Transport Scotland, while HFD’s serviced offices business, HFD Offices, will operate from dedicated space within the development.
Stephen Lewis, managing director of HFD Property Group, said: “177 Bothwell Street is an exceptional asset and, with our initial development funding package set to expire, we took the opportunity to find partners who could fund the development’s next stage.
“Given the property’s quality and sustainability credentials, interest was strong among the potential funders we spoke to.”
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