Firma Partners has provided a £58.6m loan to developer Regal to refinance the Clarendon Works, a modern 140,000 sq ft workspace in Watford.
The amenity-rich, 12-floor, highly-sustainable building is almost 80 per cent let with strong interest in its remaining two floors. It is powered entirely by renewable energy.
Firma Partners founder and chief executive Victor Librae said: “We’re excited to provide Regal with an investment loan to refinance The Clarendon Works, which has set a new benchmark for offices in Watford and the South East, providing a highly sustainable amenity-rich workspace that has attracted high calibre tenants.
“Firma Partners is focused on actively supporting forward thinking developers and investors to unlock best-in-class real estate projects and the facility we are providing for The Clarendon Works is a great example of this approach.”
Tenants include the national lottery operator Allwyn UK, which took 63,527 sq ft over six floors, and global tech business Epson UK & I, which signed up for 30,530 sq ft. The premium flexible offices operator YoooServ will also provide 16,795 sq ft of flexible workspace on the ground and first floors.
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