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Linen Court secures GBP70m funding deal

Investor and developer Rocket Properties has refinanced its Linen Court development in London’s Shoreditch area with a six-year, GBP70 million term loan facility provided by M&G’s Real Estate Finance team.

The funding was arranged by real estate advisory firm Moorhall Capital on behalf of Rocket Properties.

Located just off Old Street’s ‘Silicon Roundabout’, Linen Court is a 150,000 sq ft mixed use scheme that was originally completed by Rocket Properties in 2012. The development comprises a 10-storey office building that is occupied by WeWork, a 251-bed Premier Inn, pub and residential units.

M&G was the incumbent funding partner, and the new deal replaces Rocket’s existing facility with them.

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