BCLP advises Aviva Investors on c.£37,500,000 financing for redevelopment of 95 New Cavendish Street, London

International law firm BCLP has advised Aviva Investors on an up to c.£37,500,000 agreement to finance the redevelopment of 95 New Cavendish Street, London.

This is our first instruction on a redevelopment deal for Aviva Investors, which has financed the Sponsor’s plans to redevelop the existing building into a 22,589 sq ft prime office space in the West End. The redevelopment is targeting EPC A and BREEAM ‘Excellent’ certifications, alongside a Wiredscore Gold rating. The facilities put in place both refinance the existing intercompany debt and finance the loan costs (during the development phase) and development costs.

The deal was led by Partner Eleanor Penton and Practice Group Leader Naveen Vijh (both Real Estate Finance), with a deal team comprising of Senior Associates Lauren Le Voi, Katie Moss, Associate Jonathan Lobley and Paralegals Stanley Yao and Ana Lina Toplak (Real Estate Finance); Senior Associate Giles Williams (Real Estate); Partner Victoria Blanchard and Associate Liam Lee (Real Estate Disputes); Partner Christopher Skone James and Consultant Nick Danev (Construction); Partners Andy West, Simon Letherman and Associate Liam Johnson (Tax); and Partner Ambroise Foerster and Associate Mina Fontaine (Luxembourg).