Lloyds acted as co-ordinator of the facility. Investec Structured Property Finance has loaned The LabTech Group £72m ($96m) to construct a 140,000 sq ft mixed-use development at Camley Street, King's Cross in London. It is the first time that an investment bank has lent money for such a large project and it will be used as collateral on loans from other banks. The development has received planning permission for 121 one, two and three-bed apartments and 29,000 sq ft of co-working space, operated by LABS LIVE and LABS co-working platform respectively. The development is expected to be completed in 2020. Kings Cross Central is becoming an attractive location for creative companies, with Google, YouTube and Louis Vuitton among residents.
Investec Structured Property Finance has loaned The LabTech Group £72m ($96m) to construct a 140,000 sq ft mixed-use development at Camley Street, King's Cross in London. It is the first time that an investment bank has lent money for such a large project and it will be used as collateral on loans from other banks. The development has received planning permission for 121 one, two and three-bed apartments and 29,000 sq ft of co-working space, operated by LABS LIVE and LABS co-working platform respectively. The development is expected to be completed in 2020. Kings Cross Central is becoming an attractive location for creative companies, with Google, YouTube and Louis Vuitton among residents.