The 15-year deal sees the company consolidate and extend the maturity of its long-term funding facilities until 2036 by refinancing an existing credit line and extending the term of the existing £121m Aviva facility, originally due to mature in 2031.

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As it continues to accelerate its decarbonisation as part of its net zero goals for new buildings by 2030 and its entire portfolio by 2050, Bruntwood has also agreed a number of sustainability performance metrics as part of the agreement that are primarily focused on reducing its carbon emissions and procuring green energy.

It is the second major climate-aligned financing facility to be secured by the group this year after Bruntwood SciTech – the joint venture with Legal & General – closed a £95m sustainability-linked loan last month.

Chief executive Chris Oglesby said: “This is a milestone new agreement for Bruntwood that provides us with significant new capital to support our strategic investments over the next decade and beyond, while also recognising the leadership position we have taken in tackling climate change in the UK’s real estate sector.

“As we begin to lean into a post-pandemic world and the new opportunities this creates for our businesses, we are pleased to have the backing of a quality funding partner in Aviva Investors, and look forward to continuing to deepen our relationship with them.”

Gregor Bamert, head of real estate debt at Aviva Investors, added: “With the evolution of office space beyond Covid, Bruntwood’s exceptional track record over the last five years we have worked together coupled with their forward-thinking, sustainable approach to their customers, gives us significant comfort providing long term facilities in this sector.

“We’re especially pleased to see the completion of yet another sustainable transition loan since the launch of our initiative in December and proud to be helping one of the industry’s first movers on sustainability to increase the scale and scope of their decarbonisation.”

Bruntwood was represented by Addleshaw Goddard and Eversheds advised Aviva Investors.

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