London-based property investment and development group, Romulus has announced that it has successfully completed the multi-million-pound refinancing of one of its flagship properties in the capital.
The group who own and manage over 700,000 square feet of prime office, retail, hotel and leisure space in London and the USA, have secured a £55 million refinancing from German commercial bank, Helaba for their fully-let, 175,000 sq ft, ‘3 Shortlands’ office in Hammersmith, West London.
Commenting on the five-year fixed-rate refinancing facility, Mark Lloyd, Real Estate Finance Director at Helaba, said: “Helaba was delighted to support Romulus with this financing, demonstrating our continued active presence in the UK market. Supporting successful real estate clients with a strong track record in asset management has always been a key part of our focus, and this transaction represents another opportunity for us to develop a new client relationship.”
In a statement given to Commercial People, Romulus said that the refinance of 3 Shortlands follows the group’s strategy to “completely reposition and modernise the offices in a new landscaped setting.”
The 3 Shortlands office scheme provides a mix of traditional and flexible occupation as well as a wide range of amenities and refurbishments including a new double-height reception and café, event spaces, gym, swimming pool, extensive outdoor and more.
In a closing statement, Matthew Garner, Finance Director of Romulus Holdings, said: “We are very pleased to have agreed this new facility with Helaba, which concludes the successful delivery of another value-add strategy by Romulus, and we look forward to growing the relationship with Helaba.”