Investec to provide £13.3m package for Farringdon acquisition and redevelopment

Investec Structured Property Finance has agreed to provide a £13.3m debt and equity package to Atlas Property for the acquisition and speculative redevelopment of an office building in Farringdon.

The two-year development loan will support Atlas through the planning, development and long-term asset management of Signet House.

Stephen Martin, property finance banker at Investec, said: “Despite ongoing market uncertainty, the occupier market in London has remained robust, driven by demand from the likes of tech and creative businesses for whom London remains the pre-eminent global city for collaboration and talent.

“The redeveloped building, in a highly prized location, will be a beneficiary of this status quo, which we expect to continue for the foreseeable future.”

Investec has now supported the customer four times, with a group exposure of £33m.

Frixos Kaimakamis, director at Atlas Property, added: “We are delighted to further cement our relationship with Investec through the acquisition of Signet House.

“The provision of equity adds a further dimension to our investment strategy and is a recognition of our excellent track record in delivering market-beating returns.”

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