Ciel advised a private client on an office redevelopment opportunity in the City of London. The building is a 1990’s office building, which has planning permission for the partial demolition of the existing 4-storey building and the construction of a new part 5’, part 6’storey 38,664 sq ft (3,592 sq m) GIA B1(a) office building.
In Q4 2020 despite Covid-19 Ciel were able to secure development finance to enable to project to move forwards. The remit involved assisting on the valuation, project monitoring report and negotiating the loan documentation. Ciel will be involved until the project completes, managing the monthly loan drawdowns.
Please contact one of our team if you have a similar project that needs financing or you require any assistance with a similar asset strategy.