Cain International has agreed to an £86 million development loan with BauMont Real Estate Capital and YardNine for the development of the 95,000 sq ft 100 Fetter Lane development.
The building has recently been named “Edenica” for its extensive outdoor spaces which form part of the scheme and adjoin it.
The project targets the highest environmental standards of BREEAM Outstanding, WiredScore, SmartScore and WELL certifications. Sustainability, technology and wellbeing are extensively incorporated into the design. This includes voluminous office space with clear heights of over 3m, openable windows to enable mixed-mode ventilation, extensively planted terraces to encourage biodiversity and provide significant external breakout spaces, facilities to encourage active modes of travel, and a high-performance 100% electric building designed with the Waterman Group to ensure the building uses as little energy as possible and achieves Net Zero carbon emissions in use.
Construction work has commenced on site and the scheme is due to complete in Summer 2024.
Tanja Yerolemou-Ennsgraber, Senior Vice President – Real Estate Finance at Cain International, commented: “We are excited to partner with an experienced sponsor and developer duo, joining their journey delivering a best-in-class office scheme. The project embraces the needs and desires of the future occupier, being mindful about their experience and bringing it to the fore. BauMont and YardNine have successfully unlocked a fantastic development opportunity and we are pleased to bring our construction financing expertise to the table and see Edenica unfold.
Damien Pasini, Director at BauMont Real Estate Capital added: “Following the grant of planning permission last year, securing development financing is another significant milestone for 100 Fetter Lane. We look forward to working with Cain and YardNine to deliver a highly sustainable and innovative workplace in one of Central London’s most vibrant submarkets”.
BauMont was advised by BCLP and Cain International by Taylor Wessing, Savills and CBRE.