Puma Property Finance funds London office redevelopment

Puma Property Finance has provided a £45 mln (€52.5 mln) loan to Victory Group for the redevelopment of a 2,044 m2 sustainable office building on Jermyn Street in St James's, London.

Jermyn Street in St James’s, London

The eight-floor building, located in a prime St James's location, will feature retail space on the ground floor and offices above. The project involves a deep retrofit, including a new façade, extensive interior upgrades, an additional office floor, a large communal roof terrace, and "end-of-trip" facilities like showers and bike storage. This redevelopment aims for an EPC "A" rating and BREEAM "Excellent" certification, significantly improving the building's environmental performance.
This marks Puma's first collaboration with Victory, a London-based investment firm managing around €5 bn in assets across Western Europe. The Jermyn Street scheme will be Victory's inaugural UK redevelopment. Completion is anticipated in Autumn 2026.
Erik Moresco, founder and managing partner of Victory Group, commented: “The partnership with Puma is a significant milestone in bringing our vision for the site to life and unlocking the potential of this project, which exemplifies our commitment to sustainably bringing buildings back to life through thoughtful repurposing. We are pleased to be bringing our expertise and knowledge to this debut London project and look forward to delivering a product that preserves the historic fabric while delivering outstanding service and quality to the market.”
Eliot Kaye, managing director at Puma Property Finance, added: “We are delighted to be supporting Victory Group on the redevelopment of this site into a best-in-class, highly sustainable office building in the heart of St James’s. The project represents the very best of modern redevelopment: a prime location, outstanding ESG credentials and a commitment to delivering long-term value for both occupiers and the local community. We look forward to seeing the Jermyn Street site come to life in the coming months and to working closely with Victory again in the future.”