Firma Partners & ASK provide loan for London office acquisition

Real estate lenders Firma Partners and ASK have provided a £65.5 mln (€76.6 mln) senior loan facility to private investor Seng.

Regents House

The loan, which will be used to finance the acquisition of Regents House in central London, is secured against both Regents House and Chiswick Tower.

Regents House, a 21,088 m² office building located near Angel station on Islington High Street, has been largely vacant and is outdated for current market demands, favouring modern, high-quality spaces. Seng plans to redevelop Regents House, proposing a hotel-led scheme complemented by retail and leisure facilities.

This transaction also leverages Seng's ongoing plans for Chiswick Tower, where residential and co-living developments have already secured planning consent.

Victor Librae, chief executive of Firma Partners, said: “We are delighted to support Seng on this unique transaction, which brings together two very well-located London properties with compelling conversion and repositioning angles. Chiswick Tower benefits from an established permitted development consent for a high-quality build-to-rent scheme in a very sought-after residential location, while Regents House offers a unique opportunity to unlock significant value through a hotel-led planning consent adjacent to a very busy London underground station.”