The senior loan will be used to fund the acquisition of Winchester House, a 317,000 sq ft office building in the City of London.

Castleforge and Gamuda plan do an extensive refurbishment programme to add critical massing and improve the overall sustainability of the building.

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“This is a rare opportunity to redevelop an office of this size in the heart of the City of London,” said Andreas Dimitriou at Cheyne Capital. 

“This remains one of the most attractive office locations in the world thanks to strong tenant demand, excellent transport links and limited development pipeline. 

“[The sustainable credentials] make this project even more unique and set to attract institutional tenants who want to reside in an office they know is in line with best-in-class corporate ESG policies.”

Michael Kovacs, founding partner of Castleforge, added: “Winchester House is a landmark acquisition for Castleforge and the City. 

“Supported by Cheyne Capital and working with Gamuda, we are confident that we will see this space transformed to trailblaze a new class of amenity rich and sustainable offices in the area.” 

Mohammed Rashdan bin Mohd Yusof, deputy group managing director at Gamuda Berhad, commented: “The iconic office project is situated in the heart of the City of London, the Square Mile, which is the global financial centre and mega-tech hub. 

“It also is less than a five-minute walk from the game-changer Crossrail infrastructure now named the Elizabeth Line.”

Castleforge and Gamuda were advised by Lakefield Capital.