"Providing this second loan to W.RE underscores our commitment to building lasting relationships with key industry players, and further strengthens our position as a trusted leader in real estate finance"
- Nicholas Bent - Canada Life
Canada Life Asset Management has announced that it has provided a £41m six-year fixed-rate loan to W.RE to refinance 75 Grosvenor Street in Mayfair.
The 40,000 sq ft building, which underwent a conscientious retrofit and restoration by W.RE to create a modern, bright office in a prime location, is 100% let to tenants including NextEnergy Capital Ltd and flexible workspace operator Landmark, which is bringing its workspace to market in the coming months.
Mayfair’s popularity as an office location has surged over the last years, ranking it as the most sought-after area on Free Office Finder’s list. Recognising this demand, W.RE transformed three Grade II listed buildings into a unified prime Mayfair office, blending modern workspaces with restored heritage details. Unique features, such as silk fabric glass in the atrium and a steel helical staircase made of statuarietto marble, complement restored historic elements like bespoke cornices and fireplaces preserved from the previous centuries.
Established in 2013, W.RE has developed and managed over £1.8bn worth of real estate, focusing on the sustainable repositioning of assets across both core and emerging locations in London.
“Securing this refinancing for 75 Grosvenor Street not only ensures the future of this remarkable property but also reinforces our commitment to preserving its legacy while adapting it for modern use," explained David Owen, Finance Director at W.RE, "As our second loan with Canada Life, this transaction reflects a strong and trusted partnership,"
He added, "It was a pleasure to work with Mark Dunstan who led the project from Canada Life Asset Management, as well as the Brotherton and Fieldfisher teams to close the transaction in the expected timeframe. We look forward to achieving more milestones and successes in 2025,”
Nicholas Bent, Head of Real Estate Finance at Canada Life Asset Management, said: “Providing this second loan to W.RE underscores our commitment to building lasting relationships with key industry players, and further strengthens our position as a trusted leader in real estate finance. We remain focused on delivering tailored solutions that support our clients’ growth while reinforcing our market stronghold. It has been a pleasure to work with the W.RE team again.”
