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Romulus secures £80m Lloyds green loan for west London assets

By Paul Norman - Wednesday, February 07, 2018 8:16

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Privately-owned property investor and developer Romulus has refinanced five west London assets in a new £80m loan, provided by Lloyds Bank Commercial Real Estate through its Green Lending Initiative.

Under the agreement Romulus will improve the sustainability of its assets, encourage occupiers to reduce their energy consumption and improve its collection of energy performance data, securing a margin discount on its loan in return, in line with the terms of Lloyds Bank’s programme.

The portfolio comprises several office and retail assets in Hammersmith and Fulham town centres, including a 35,000 sq ft office-led refurbishment scheme in Fulham Broadway where Romulus is looking to extend and renovate the existing structure to deliver a modern and sustainable building.

Lloyds Bank has worked with Romulus, a family-held business, for more than 40 years.

Matt Garner, Finance Director for Romulus, said: “We’re committed to continually investing in our estate and to improving its sustainability, with the minimum environmental impact. This funding package will support our planned investment in several major assets.”

David O’Sullivan, Director in the London Private Groups team at Lloyds Bank Commercial Real Estate, added: “The Green Lending Initiative is designed to reward and encourage best practice in the management and development of property and so we’re pleased to unlock its benefits for one of our longest relationships.”

pnorman@costar.co.uk

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