Federated Hermes has completed a five-year £376 million financing for Milton Park, one of the UK’s largest single-asset financings outside London. The new financing replaces a previous £200 million mortgage loan and was led by existing lender Barings Real Estate, with the support of HSBC UK.
Located in the heart of Science Vale, just south of Oxford, Milton Park is managed by Federated Hermes and held in a joint venture with institutional clients, including CPP Investments which holds a 50% interest. The Park is home to over 280 organisations spanning life sciences, healthtech, green energy, advanced engineering and professional services. Covering more than 300 acres, it is one of Europe’s largest single-ownership innovation campuses.
Philip Campbell, Commercial Director for Milton Park, said:
“The successful completion of this financing represents a significant milestone for Milton Park. It not only reflects the strength of the relationship with our partners including CPP Investments but also demonstrates how global lenders share confidence in our vision and long-term business plan for Milton Park.”
Mark Russell, Chief Investment Officer for Federated Hermes Real Estate, added:
“Milton Park is a prime example of how our Real Estate business continues to evolve towards thematic real estate strategies that respond to societal needs and structural undersupply in sectors such as innovation and technology, all while continuing to focus on delivering resilient, long-term returns for our clients.”
Richard Holland, Senior Relationship Director, Real Estate Finance at HSBC UK, commented:
“Milton Park is a significant asset in the UK’s Science, Technology and Innovation ecosystem, and we’re pleased to support its continued development through this financing.”
This milestone financing will help ensure Milton Park continues to grow as a leading UK hub for science, technology and innovation.
