The former southwest London Grade II-listed Victorian pump house underwent a substantial conversion and restoration plan in 2022.

The community of buildings here contains over 55,000 sq. ft of Grade A laboratory space.

The 65% LTV 18-month term loan will contribute to the growth and expansion of the landlord’s portfolio of ESG-related companies and will be exited via a liquidity event through a separate business sale.

The facility is being used to refinance the previous development lender and for a recapitalisation, as well as security over a portfolio of mixed-use property in Surrey.

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Cohort has organised £490m worth of loans since inception four years ago, with an average closing time of 10 days.

Matt Thame, CEO at Cohort, commented: "We are delighted to have closed this significant loan in the life science industry.

“It demonstrates our commitment to supporting innovative ventures and providing reliable funding solutions in the challenging current climate."

Bal Sohal, co-founder of Cohort, added: “Due to the current climate, private credit in the £3m-£75m space is becoming more sought after and this recent completion is testament to why Matt and I created the Cohort platform — to reliably serve the borrower market with common sense at the forefront of the underwrite.”