Aviva Investors announces it has provided Bruntwood with a new £276m sustainable loan

(London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva) announces that is has provided Bruntwood with a new £276m, 15-year sustainable-linked loan facility. It is secured against 22 quality office assets primarily located in Manchester and Birmingham.

The agreement sees Bruntwood 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.

inside bruntwood reception

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 deal that are primarily focused on reducing its carbon emissions and procuring green energy.

In addition to using the funding to invest in new sustainable infrastructure to support its low-carbon transition, Bruntwood will also benefit from the capacity to make substantial capital investment into the portfolio. 

The loan facility has been made on behalf of both internal and external client mandates managed by Aviva Investors, including the Aviva UK Life Annuity business.

Commenting on the transaction Gregor Bamert, Head of Real Estate Debt at Aviva Investors, said: “We are delighted to have extended the existing relationship with Bruntwood as part of this wider refinance. 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. This strong borrower-lender partnership includes a commitment to review performance targets regularly throughout the term, in line with an anticipated evolution of ESG measures over the loan period.” 

Chris Oglesby, CEO of Bruntwood, added: “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.” 

For more information contact:

A picture of James Morgan

James Morgan

Media Relations Manager

A picture of Steve Ainger

Steve Ainger

Head of Media Relations

Important information

The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. 

The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. 

Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 55 May 2021. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature.  The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. 

Issued by Aviva Investors Global Services Limited, registered in England No. 1151805.  Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ   Authorised and regulated by the Financial Conduct Authority.

Aviva Investors

Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £366 billion in assets as at 31 December 2020.

AVIVA PLC

For information on how Aviva is helping our people, customers and communities impacted by COVID-19 visit: www.aviva.com/covid-19-our-response/

Aviva is a leading international savings, retirement and insurance business. We exist to be with people when it really matters, throughout their lives – to help them make the most of life. We have been taking care of people for more than 320 years, in line with our purpose of being ‘with you today, for a better tomorrow’.

Our vision is to earn our customers’ trust as the best place to save for the future, navigate retirement and insure what matters most to them. In 2019, we paid £33.2 billion in claims and benefits on behalf of our 33.4 million customers.

We will focus on the UK, Ireland and Canada where we have leading market positions and significant potential. We will invest for growth in these markets. Our International businesses in Europe and Asia will be managed for long-term shareholder value. We will also transform our performance and improve our efficiency. Our transformation will be underpinned by managing our balance sheet prudently, reducing debt and increasing our financial resilience.

Total group assets under management at Aviva group are £522 billion and our Solvency II capital surplus is £12.0 billion (HY20). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.

For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us

The Aviva newsroom at www.aviva.com/newsroom includes links to our image library, research reports and our news release archive. Sign up to get the latest news from Aviva by email.

You can follow us on Twitter

You can follow us on LinkedIn: www.linkedin.com/company/aviva-plc

For the latest corporate films from around our business, subscribe to our YouTube channel

We have a Globelynx system for broadcast interviews. Please contact the Press Officer noted above if you would like to make a booking.