Fiera Real Estate provides £115m to refinance One Station Hill in Reading
The funding refinances an existing development loan from BGO and gives extra capital to support the final phase of leasing at the Grade A office scheme.
Fiera Real Estate has provided a three-year £115m senior debt facility to Lincoln MGT, a joint venture (JV) between Lincoln Property Company and MGT Investment Management, to refinance One Station Hill in Reading.
The funding refinances an existing development loan from BGO and gives extra capital to support the final phase of leasing at the Grade A office scheme.
Completed in April 2025, the 15-storey building totals 280,000 sqft and is now over 70% let.
Five office leases have been agreed with leading occupiers, and recent deals have achieved rents above £55 per sqft, setting a new benchmark for Reading.
The scheme also includes 9,500 sqft of fully let retail space.
One Station Hill is part of the wider 6.5-acre Station Hill Estate regeneration, located directly opposite Reading station and the Elizabeth Line.
The first phase of the development includes the 598-unit build-to-rent scheme, Ebb & Flow, which was recently acquired by Pension Insurance Corporation for over £200m.
The building was delivered to high sustainability standards, achieving energy performance certificate (EPC) A, BREEAM Outstanding, WELL Platinum and NABERS 4.5-star ratings.
Eastdil advised Lincoln MGT on the financing.
Richard Howe, managing director and co-head of European real estate debt at Fiera, said: “This financing underlines our conviction in high-quality, well-located assets and experienced sponsorship.
“One Station Hill is a standout scheme, and we are pleased to support its continued leasing and stabilisation.”
Callum Thorneycroft, managing director, MGT Investment Management, on behalf of JV Lincoln MGT, said: “Attracting further institutional capital reflects the quality of One Station Hill and the occupiers that have committed to the building.
“We look forward to continuing to deliver the quality offering which Station Hill provides, creating a dynamic, collaborative and amenity-rich destination in the heart of one of the UK’s fastest-growing urban economies.”
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