Coal House and Coal House East have undergone a redevelopment by Create, with the 42,000 sq ft project  including new ESG and environmental sustainability credentials such as: EPC A, BREEAM Excellent, AirRated Platinum, and 100% powered by renewable energy.

The three-year facility will support Create’s business plan for leasing the property over the next 12 to 18 months.

The exit for the loan will be the sale of the building once let.

Dan Smith, founder and CEO of Broadwood, commented: “Coal House is a great example of an exceptional product right in the sweet spot of tenant requirement in this important regional office market.

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“We are delighted to be able to assist Create with this refinance and support its business plan to embrace the ESG agenda and maximise the potential of the property.

“At a time when there is uncertainty in global markets, reduced availability of finance, and pressure on capital values, there is greater importance on loan structuring, analysis, underwriting and due diligence.”

Ricky Humphreys, director at Create, added: “We have responded to a distinct lack of small- to medium-size office spaces meeting these standards in Cardiff.

“Broadwood has remained confident in underwriting and in our business plan, even as macroeconomic headwinds and lending market conditions have worsened, enabling us to transition smoothly now to getting the building fully occupied and income producing.”