Schroders/Phoenix Future Growth Capital provides £32m City of London office refurbishment loan

Future Growth Capital provided a £32m whole-loan facility to Greycoat Real Estate against 140 Leadenhall, a Grade II-listed building in the City of London undergoing comprehensive refurbishment to deliver modern Grade A office space. The two-year facility covers final-stage works, partial refinancing of acquisition and earlier capex, and includes a lender reserve for ongoing costs. Practical completion was targeted for Q1 2026. Future Growth Capital is a private markets solutions business established by Schroders and Phoenix Group to originate real estate debt loans of £10-30m+ across UK real estate. Greycoat Real Estate is a European real asset investment business focused on the UK office sector. £32m whole-loan at an undisclosed rate, secured against the freehold/long leasehold of 140 Leadenhall, City of London. Two-year term.