The funding will be used to redevelop a 22,000 sq ft, eight floor space on Jermyn Street in St James’s in Central London. This building has dedicated retail space on the ground floor and office space above.

Victory Group has secured the funding for a deep retrofit of the building that will include a new front façade as well as extensive upgrades to the interior.

An additional office floor will be built along with a large communal roof terrace and ‘end-of-trip’ facilities including showers and bike storage. The redevelopment will target EPC “A” rating and BREEAM “excellent”.

The scheme is targeting completion in Autumn 2026.

•   The Finance Professional Show 2024: The Video
•   Puma provides North Bay with £31m package
•   Puma funds Glasgow PBSA with £58m

“We are delighted to be supporting Victory Group on the redevelopment of this site into a best-in-class, highly sustainable office building in the heart of St James’s,” said Eliot Kaye, managing director at Puma Property Finance.

The project represents the very best of modern redevelopment: a prime location, outstanding ESG credentials and a commitment to delivering long-term value for both occupiers and the local community.

“We look forward to seeing the Jermyn Street site come to life in the coming months and to working closely with Victory again in the future.”

Erik Moresco, founder and managing partner at Victory Group, added: “The partnership with Puma is a significant milestone in bringing our vision for the site to life and unlocking the potential of this project, which exemplifies our commitment to sustainably bringing buildings back to life through thoughtful repurposing.

“We are pleased to be bringing our expertise and knowledge to this debut London project and look forward to delivering a product that preserves the historic fabric while delivering outstanding service and quality to the market.”