Fiera Real Estate Debt Strategies Limited, an affiliate of Fiera Capital Corporation, has provided a three-year £115m senior debt facility to Lincoln MGT, in order to to refinance Reading’s One Station Hill offices.
The facility refinances an existing development loan from BGO and provides additional capital to support the final phase of leasing at the scheme.
Completed in April 2025, the 15-storey, 280,000 sq ft building is now over 70% let, with five office leases secured to leading occupiers. Recent transactions have achieved rents above £55 per sq ft, setting a new benchmark for Reading and reinforcing demand for office space in the Thames Valley. The scheme also includes 9,500 sq ft of fully let retail space.
One Station Hill forms part of the wider 6.5-acre regeneration of the Station Hill Estate, located directly opposite Reading station and the Elizabeth Line. The first phase of the development includes the 598-unit build-to-rent scheme, Ebb & Flow, recently acquired by Pension Insurance Corporation for in excess of £200 million.
Lincoln MGT have also recently submitted new planning applications for an additional expansion of the development
The building has been delivered to high sustainability standards, achieving EPC A, BREEAM Outstanding, WELL Platinum and NABERS 4.5-star ratings, and was awarded the British Council for Offices National Award for Best Commercial Workspace in 2025.
Eastdil advised Lincoln MGT on financing.
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Richard Howe, managing director and co-head of European real estate debt at Fiera, said: “This financing underlines our conviction in high-quality, well-located assets and experienced sponsorship.
“One Station Hill is a standout scheme, and we are pleased to support its continued leasing and stabilisation.”
Callum Thorneycroft, managing director, MGT Investment Management, on behalf of JV Lincoln MGT, said: “Attracting further institutional capital reflects the quality of One Station Hill and the occupiers that have committed to the building.
“We look forward to continuing to deliver the quality offering which Station Hill provides, creating a dynamic, collaborative and amenity-rich destination in the heart of one of the UK’s fastest-growing urban economies.”
Image: Andy Stagg
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