Building success at The Cube
The challenge
The Cube is a unique 20-storey, 450,000 square foot development project in central Birmingham. On completion the mixed use building will feature retail and office units, residential apartments and parking spaces, a hotel and rooftop restaurant.
The developer, Birmingham Development Company, needed a forward-looking finance partner for this unique project, and wanted to work with local experts.
Specifically, they required a partner who would:
- Understand the vision, scale and complexity of the development.
- Develop a suitable, transparent and flexible funding package.
- Provide staged funding, from site assembly and construction through to the investment phase of the completed building.
The solution
We were able to draw on the expertise of our regionally based specialist property finance team to develop a comprehensive and bespoke solution for this unique project.
“It was a pleasure putting the deal together with Lloyds,” says Alan Chatham, Director, Birmingham Development Company, “The team has a fresh outlook and an in-depth understanding of real estate.”
As the sole debt provider for The Cube, we offered an £87m speculative funding package in a tiered framework, to meet the challenges of different phases of the development.
Why Lloyds TSB Corporate Markets?
- Local approach and knowledge.
- Expertise in property and development deals.
- Fresh outlook to a complex, large scale project.
- Tailored funding structure and competitive terms.
To find out how we could help your business, contact us.