Bruntwood SciTech, the UK property provider specialising in the science and technology sector, has secured an additional £100m as part of its financing facilities from HSBC UK, Llyods Bank, NatWest, and Santander UK.

The funding will enable the Joint Venture between Bruntwood and Legal & General to continue with its expansion plans at pace to support the burgeoning demand from life science, tech and innovation businesses across the UK with infrastructure and specialist support.

As Bruntwood SciTech continues to accelerate its decarbonisation efforts as part of its net zero goals for new buildings by 2030 and its entire portfolio by 2050, the terms of the loan are intrinsically linked with these committed sustainability targets.

These include improving the EPC ratings of buildings, a year-on-year reduction in carbon intensity, a reduction in embodied carbon across new build developments, and an increase in renewable energy procurement.

The funding will now allow the company to continue with their expansion plans for No.3 Circle Square in Manchester, following along from their investment in Glasgow’s Met Tower to create a new tech hub in the Scottish city.

Bruntwood SciTech now has a £380m financial package to support its growth and sustainability ambitions; a £250m term loan and £80m revolving credit facility, both of which are sustainability linked as well as a £50m green loan for No. 3 Circle Square. Lloyds Bank acted as sustainability coordinator on the financing arrangements.

Kate Lawlor, chief executive officer at Bruntwood SciTech, said: “We are committed to a net zero future within the world-class infrastructure we build and provide for science and technology businesses and we continue to set ourselves ambitious targets to meet this goal.

“This new funding agreement enables us to accelerate our growth both sustainably and at pace, so that we can provide the specialist facilities businesses in the innovation sector need in line with demand and with minimal environmental impact.”

Andy Clarke, Director at NatWest said: “NatWest are delighted to be providing our continued support to Bruntwood SciTech with this latest Green funding.

“The funding will enable further growth in the science, technology and innovation sector and we look forward to supporting the delivery of the next phase of Circle Square as well as Bruntwood SciTech’s wider development pipeline across the UK.”

Matt Jones, Senior Director, Real Estate Finance at Santander UK said: “Bruntwood SciTech is committed to building sustainable buildings, reducing its carbon footprint, and developing areas to improve biodiversity, and Santander UK is proud to support its development plans with this latest funding.”