L/R: Richard Round, Relationship Director for Lloyds Bank Commercial Real Estate and Paul Bradshaw Finance Director, Nurton Developments.
One of Birmingham's biggest office schemes is enhancing its environmental credentials, after deciding to switch to 100% renewable energy sources.
The move follows a £66m refinancing deal between Two Colmore Square's owners, Nurton Developments and Lloyds Bank Commercial Banking, under its Green Lending Initiative.
The 160,000 sq ft scheme has been one of the city's most sustainable buildings for almost a decade.
The complex and lengthy £10m+ refurbishment received the rare accolade of BREEAM 'Excellent' status and subsequently won awards from both Property Week and the British Council of Offices.
Today, the seven-storey building counts BPP, Shoosmiths, the Insolvency Service and the Legal Services Commission among its occupiers.
“Two Colmore Square set the standard in the city’s office market almost a decade ago following its major refurbishment,” he said.
“Now, with the support of Lloyds Bank, our long-term banking partner, we’re further enhancing its status as one of Birmingham’s greenest buildings, which is critical at a time of increasing competition, and when forward-thinking occupiers are looking to move into more sustainable space.”
Richard Round, the relationship director for Lloyds Bank Commercial Real Estate, was equally pleased to conclude the deal - one of the largest completed under its Green Lending programme.
“Our Green Lending Initiative is there to help asset owners and developers in pursuit of environmental excellence by providing an interest margin discount of up to 20bps,” he said.
“This deal is a great example of how we can support ongoing collaboration between a landlord and its tenants to improve the carbon footprint of buildings and will help ensure that Two Colmore Square stays at the cutting-edge of performance for many more years to come.”