BCLP Team advises Global Holdings Group on the £290m refinancing of the iconic Sea Containers, London

BCLP has advised Global Holdings Group on the refinancing of Sea Containers, Southbank, London. Inspired by the glamour of 1920s transatlantic cruise liners, the iconic heritage building on London’s Southbank is mixed-use and includes a 359-bedroom luxury 5* hotel, spa, restaurants, bars (including the award-winning Lyaness Bar), alongside 292,000 sq ft of prime office space. The £290m senior term loan was agreed with a syndicate of banks which included ING Bank N.V. London, SMBC Bank International Plc and Bayerische Landesbank to the borrower, Global Holdings Group.

The hotel is managed by the Lore Group (which is part of the wider Global Holdings Group). Originally built in 1974, the building was renovated and first opened as a luxury hotel in 2014. In 2019, the Lore Group took over the management of the hotel and it was renamed Sea Containers London.

The Twenty Two Upper Ground office element of Sea Containers has seen a flurry of leasing activity over recent months. International accountancy adviser CFGI signed a five-year term to occupy 7,776 sq ft of workspace, whilst healthcare communications business Lucid Group agreed a five-year lease for 7,721 sq ft of space. Office occupiers benefit from a range of amenities within the Sea Containers complex, including bookable meeting rooms, a gym, restaurants, and bars.

Naveen Vijh, lead partner, commented: “It was a real privilege to be involved in the financing of such an iconic building with such a global reputation for excellence and an unrivalled location in London.”

Josh Lawrence, Chief Executive of Global Holdings Management Group UK, said: “We are pleased to have completed a new financing agreement with trusted partners ING, BayernLB, and SMBC, and would like to thank BCLP for their support. We now look forward to growing this business community with the completion of the neighbouring Barge Crescent as we create an environment where companies can thrive and attract the best talent.”

The team was led by Naveen Vijh (Partner, Real Estate Finance), supported by Taslima Salam (Partner), Hannah Wylie (Associate) and Emily Hewitt (Trainee Solicitor) for Real Estate Finance, and  Simon Letherman (Partner), Liam Johnson (Associate), Sarah Johnson (Associate) on the Tax side.