HPH environmental credentials get green light
Bath business first property company in West Country to qualify for Lloyds Bank Commercial Real Estate Green Lending Initiative
South West property experts HPH has secured a first-of-its-kind funding package to help pursue its green initiatives.
The Bath-based firm secured the loan through Lloyds Bank’s Commercial Real Estate Green Lending Initiative, which offers companies a margin discount if certain sustainability targets are met.
HPH owns a diverse portfolio of office, industrial and retail properties across the South West and is just starting its new £50 million Hawke Ridge Business Park development in Westbury, Wiltshire.
Lloyds Bank Commercial Real Estate launched its £1billion Green Lending Initiative in March this year with the aim of incentivising and supporting clients to reduce CO2 emissions from their real estate assets.
As part of the five-year funding package 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.
Sustainability has long been a fundamental part of day-to-day business at HPH. In 1995 the firm started to use the Building Research Establishment Environmental Assessment Method (BREEAM) achieving an ‘Excellent’ rating for the refurbishment of a Listed Building in the World Heritage City of Bath, which was the first in the country to achieve this level for a refurbishment.
Ten years ago HPH started to measure its carbon footprint and in 2009 became a carbon neutral company. The company has 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, 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.”
He added: “We’ve been with Lloyds Bank since we were founded 60 years ago and it has supported the expansion of HPH 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. 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 are trying to embed in the green lending initiative is ground breaking in the senior debt market and clearly demonstrates the strength of their environmental, social and governance commitment.”
David Willock, Relationship Director for Lloyds Bank Commercial Real Estate, South West & South Wales, said “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.”