HB Reavis secures £106M in green refinancing from HSBC UK to invest in sustainable projects
We have secured a £106 million Real Estate Investment Green Loan from HSBC UK following the completion of our recent project in London, Worship Square.
Worship Square’s sustainability achievements qualified it for HSBC UK’s Real Estate Investment Green Loan. The funding is being used to refinance our Development Finance facility, allowing us to invest in future sustainable projects.
The building’s predicted base energy use intensity (EUI) is 52 kWh/m²/year (NIA), approximately 25% below the UK Green Building Council’s target for 2025–2030. Worship Square’s upfront carbon emissions (A1–A5) are 480 kg CO₂/m² – over 50% lower than the LETI 2020 baseline for office buildings and about 20% below the GLA’s aspirational target.
Before receiving the Real Estate Investment Green Loan from HSBC UK, the 140,000-square-foot net-zero office building, situated at the intersection of the City of London and Shoreditch, secured an EPC ‘A’ rating, WiredScore Platinum and SmartScore Platinum. The development is also targeting WELL Platinum, BREEAM Outstanding and NABERS 5-star rating.
At HB Reavis, we’re committed to developing low carbon, future-proofed workspaces with a clear focus on wellbeing to help our customers thrive.
Our long-term relationship with HSBC UK has enabled us to successfully refinance Worship Square. This supports our growth plans to continue building sustainable developments of the future in key European cities.
Steven Skinner, CEO of HB Reavis Development
We were thrilled to build on our relationship with HB Reavis with this latest refinance. In addition to its sustainability credentials, Worship Square features one of the first affordable workspaces in Hackney. We look forward to seeing more of these developments as HB Reavis expands its footprint across Europe.
Alan Knight, Relationship Director at HSBC UK
Awarded Decarbonisation Project of the Year at the GRI Awards Europe this year, Worship Square is an all-electric building, featuring high-efficiency air-source heat pumps, smart energy management, and 71m2 of photovoltaic panels generating on-site renewable energy. It includes innovative, biophilic features such as the ‘green heart’ living lobby, rooftop garden, urban allotments with an in-house wormery for composting and 3,200 plants. The building also offers live energy usage data to support Environmental, Social Governance (ESG) reporting.
This current loan follows HSBC UK’s Real Estate Investment Green Loan refinancing of our Bloom Clerkenwell building in 2022.