Trinova secures green funding

 In Insights

22/07/2016 | Karl Tomusk, Estates Gazette

Vulcan House

Lloyds Bank has issued the first loan from its £1bn green lending scheme.

Fund manager Trinova secured £17m of debt from the bank for its £30m acquisition of Vulcan House in Sheffield, South Yorkshire.

The 120,000 sq ft building is fully let to the government.

The four-year loan reflects a 56.7% LTV.

Lloyds’ green initiative was started to motivate landlords to cut their carbon footprint by issuing loans that are up to 20bps cheaper if developers fulfil a list of sustainable criteria. In order to qualify for the discount, Vulcan House will have to keep its “excellent” BREEAM rating.

Lloyds estimates the scheme could lead to 110,000 tonnes of carbon emission cuts ““ more than the annual energy usage of 22,000 households.

http://www.egi.co.uk/news/trinova-secures-green-funding/?keyword=trinova