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RBS in £100m speculative finance at King’s Cross Central
Royal Bank of Scotland has provided one of the largest speculative development loans this cycle in the UK, Real Estate Capital can reveal. Four Pancras Square croppedThe £100m ticket will be used to build 170,000 sq ft Four Pancras Square at the King’s Cross Central scheme in London. The debt reflects around 55% of the construction cost, which will be in the region of £180m. It is “the first of what is hoped will be a series of financing solutions from RBS” said the borrower, the King's Cross Central Limited Partnership.
