Bath-based property developer HPH has secured a first-of-its-kind funding package to help pursue its green initiatives.
The firm, which owns a diverse portfolio of office, industrial and retail properties across the South West, arranged the loan through Lloyds Bank’s Commercial Real Estate Green Lending Initiative.
Lloyds launched the £1bn scheme in March to incentivise and support clients to reduce CO2 emissions from their real estate assets. It offers companies a margin discount if certain sustainability targets are met.
HPH has made a commitment to further reduce its carbon footprint and continue its programme of introducing energy efficiency measures through the refurbishment of its properties as part of the five-year funding package.
The deal comes as it starts work on its £50m Hawke Ridge Business Park development in Westbury, Wiltshire.
Sustainability has long been a fundamental part of the firm’s day-to-day business. It started to use the Building Research Establishment Environmental Assessment Method (BREEAM) in 1995, achieving an Excellent rating for the refurbishment of a listed building in Bath – the first in the country to achieve this level for a refurbishment.
The firm has been measuring its carbon footprint for 10 years and in 2009 it became a carbon neutral company.
The company has also been rolling out a programme of connecting and monitoring its buildings to record energy consumption and work with occupiers to reduce their end costs.
Managing director Lindsay Holdoway, pictured, said: “We have worked hard to establish a culture of sustainability at HPH and we have led the field in creating efficient and positive work spaces for companies to thrive in.
“We strongly believe that landlords have a responsibility towards their occupants. We have spent more than a decade introducing measures which lower energy consumption and reduce the use of resources. We also continue to monitor our buildings to make sure they remain up-to-date.
“This focused approach has enabled us to provide additional financial support to our occupants, as we reduce the total costs of occupation whilst delivering better working environments and promoting the efficient use of resources.”
The firm has banked with Lloyds since it was founded 60 years ago and it has supported its expansion through two generations of family ownership.
“This new and innovative funding package fits with our company ethos and will support us in achieving further carbon reductions and we have a number of initiatives and schemes which this funding will assist with,” said Lindsay.
“It will also enable us to take the business into its next phase of growth at Hawke Ridge Business Park.
“We believe that what Lloyds Bank is trying to embed in the green lending initiative is ground-breaking in the senior debt market and clearly demonstrates the strength of its environmental, social and governance commitment.”
Lloyds Bank Commercial Real Estate, South West & South Wales relationship director David Willock added: “Lindsay and his team live and breathe sustainability, and we’re looking forward to working together as part of our Green Lending Initiative.
“The programme allows us to offer competitive finance solutions to clients by rewarding their best practice and enabling them to push their targets further.
“We are seeing significant demand for loans that can be supported by the Initiative across the UK on behalf of large and mid-sized property companies. In the South West, an area that’s almost synonymous with environmental responsibility, we expect many to follow in HPH’s footsteps.”
