Investec arranges £80 million investment loan for office-led St. Pancras Campus

Investec Bank plc (“Investec”), a leading international financial services provider, has arranged a c.£80 million investment loan with London-based real estate developer and long-standing client, W.RE, secured against St. Pancras Campus. The new three-year facility refinances a development loan provided by Investec in 2021, following W.RE’s successful delivery of the scheme in 2024.

The loan reinforces Investec Real Estate’s strategy of partnering with well-capitalised, experienced clients investing in best-in-class, energy-efficient (EPC A, BREEAM Excellent) and future-fit office space in markets with compelling fundamentals. Delivered by Investec’s Offshore Real Estate team, this latest facility represents the fourth transaction in the partnership between Investec and W.RE.

St. Pancras Campus, designed by Stirling Prize-winning architects Caruso St John, is a mixed-use development offering circa 130,000 sq ft of Grade A office space; approximately 27,000 sq ft of light industrial space; retail units; and 34 apartments, including 14 affordable homes (all of which are now fully occupied). Built around a new public pocket park, the campus features extensive terraces, a communal rooftop and wellness-focused amenities, creating a vibrant environment in the heart of London’s Knowledge Quarter.

Occupying an entire 1.2-acre city block between King’s Cross and Camden Town in the heart of the Knowledge Quarter, the scheme combines environmental design principles and innovation, including an EPC A rating throughout its commercial areas and a BREEAM ‘Excellent’ certification for the office space. The office accommodation is currently c.50% occupied and anchored by Super Group, the NYSE-listed holding company of the world’s most popular global sports and iGaming brands, on a long-term lease.

Hollie Sleigh, Investec Real Estate, said: “Demand for best-in-class London office space continues to significantly outstrip supply, with blue-chip global occupiers looking for the highest quality assets to attract and retain talent while creating an environment that fosters collaboration and enhances wellbeing. This refinancing of a recently completed, Grade A office development reflects our client-led approach to real estate lending and our strong conviction in markets supported by favourable fundamentals, as well as our ability to write larger ticket loans.

“St. Pancras Campus is an excellent example of a future-focused office building with strong environmental performance standards, delivered by an experienced sponsor and we are proud to support the next phase of its journey while continuing our longstanding partnership with W.RE.”

Sascha Lewin, CEO of W.RE, said: “Investec’s continued support underscores the strength of our vision for St. Pancras Campus and the confidence leading financial institutions have in our ability to deliver exceptional projects. Their expertise and reliability have been instrumental in navigating a development of this scale, and this refinancing marks another milestone in our long-standing partnership. We look forward to building on this relationship as we pursue further opportunities to create high-quality spaces in London aligned with recognised environmental standards such as EPC A and BREAAM Excellent”.

Investec seeks to partner with clients undertaking projects aligned with lower-carbon pathways, such as high-performance buildings and energy-efficient developments.. This focus reflects the bank’s ambition to support lower-carbon growth and promote environmental responsibility, and forms part of its broader commitment to progress  towards its Net Zero goals by 2050. The loan was arranged in partnership with Mizrahi Tefahot Bank Ltd.