Related Argent gets green loan for first Brent Cross Town office

Related Argent has secured a £62.7m green loan from NatWest for the first office building in its £8bn Brent Cross Town commercial district in north-west London. The green loan, for 3 Copper Square, NW2, represents NatWest’s second financing to Brent Cross Town. It previously provided a £60m loan for the district’s first market-sale residential building, the Delamarre, which is expected to open later this year. Alongside this, Barnet Council is providing a £100m loan facility to help fund the office development. The news comes as construction begins on 3 Copper Square, which will provide 239,000 sq ft of office space across 14 floors, plus flexible retail space at ground-floor level.  The scheme, which sits within the wider 3m sq ft development, is targeting EPC A and BREEAM Outstanding ratings. Landlord areas will be supplied with 100% renewable electricity through a bespoke power purchase agreement, while low-carbon heating and cooling will be provided via one of Europe’s largest electric district energy networks, developed in partnership with Vattenfall. Designed by shedkm, the building will have a cross-laminated timber and concrete structure. It is expected to open in Q3 2026. BAM has been appointed as the main contractor, while Sheffield Hallam University will be the anchor tenant. The university will occupy around 110,000 sq ft across the lower six floors of the building for its first campus outside Yorkshire. Matt Flood, head of commercial development at Related Argent, said: “The start of construction at 3 Copper Square marks a massive step forward in creating a new business and innovation district at Brent Cross Town.  “Brent Cross Town is an extraordinary opportunity to deliver a new neighbourhood founded on health and sustainability, where businesses can flourish. This inspiring new hybrid timber and concrete-framed building will provide expansive workspaces that energise and connect. With access to state-of-the-art sporting facilities, a vibrant new high street and engaging public realm, Brent Cross Town is where talent will choose to be.” Mark Pope, NatWest relationship director, said: “NatWest is proud to be the first major lender to support Brent Cross Town to build a thriving, sustainable business district in the heart of London, building on our long-standing relationship with Related Argent and previous support across the wider scheme.” He added: “This facility demonstrates the bank’s firm commitment to maintaining the highest standards in the green finance market and marks a major milestone in our ongoing support to the development.”  Rod Stiles, London director at BAM, said: “We are excited to begin another chapter in our 30-year-long partnership working with Related Argent and continuing to build on our previous successes in delivering transformative projects.  “3 Copper Square aligns perfectly with our own values of building a sustainable tomorrow and leaving a positive impact on the communities where we build, and we look forward to delivering this thriving new neighbourhood with our partners.” Seven developments at Brent Cross Town are now underway, with more than 930 homes collectively on site, along with 662 student rooms in partnership with Fusion Students.  Knight Frank and Cushman & Wakefield have been appointed as leasing agents. Images © Somewhere