Hypo Real Estate Bank International AG a member of Hypo Real Estate Group - and HSH Nordbank AG, have announced the provision of a secured £150 million (approx. €205 mln) Loan Facility to a joint venture held by Hammerson, GE Real Estate and Bank of Ireland Private Banking. The facility is for the redevelopment of the site of the former London Stock Exchange, 125 Old Broad Street, London EC2. The transaction completed on 2 March 2007.
125 Old Broad Street, London EC2 is a major redevelopment of a landmark building in the City of London. The extending and re-cladding of the existing 40-year old, 26-story concrete frame brings unique design challenges but the finished building, delivered to the letting market in the December 2007, will be a modern 316,000-ft² office complex with 17,200 of retail space.
Commenting, Harin Thaker, CEO Europe Hypo Real Estate Bank International, said, "Hypo Real Estate Bank International is delighted to be working with HSH Nordbank to provide the financing for such a landmark redevelopment."
The City of London with the former London Stock Exchange(left)
Commenting, Jürgen Lange, Head of International Business Origination HSH Nordbank AG, said, "HSH is very pleased to be working with Hammerson and Hypo Real Estate Bank International to provide a flexible facility for the redevelopment of such a well known and important property in the heart of the City."
Source: Hypo Real Estate