Kings Cross development receives £69m green finance loan

27 July 2020 | General

Property developer Argent has secured a £69m loan facility to deliver Cadence, a 163 apartment development at King’s Cross.

There will be 60 rental apartments managed by Pocket Living, which are marketed for middle earning workers.

The loan is on behalf of the King’s Cross Central Limited Partnership (KCCLP) from HSBC UK (acting as Green Loan Coordinator) and NatWest.

Michael Lightbound, chief financial officer of Argent, said: “From the outset, sustainability has been the foundation of King’s Cross.

“We were proud to receive the first Green Loan for a commercial development in 2018, and since then we have continued to deliver on our sustainable and environmental commitments.

“With our second Green Loan for Cadence we are delighted to be building on our long-term relationship with HSBC UK and NatWest.”

Cadence meets the Loan Market Associations’ Green Loan Principles which facilitate and support environmentally sustainable economic activity, such as the reduction of emissions or energy usage, or reduction in the use of scarce natural resources.

This post has originally been featured in Property Wire.