ING has arranged a £105m green loan to finance the development of Xylo, a landmark Clerkenwell project set to become the UK’s largest all‑timber frame trophy office building. The financing supports Global Holdings Group’s redevelopment of 100 Grays Inn Road into nine floors of high-quality workspace which will set a new benchmark for sustainable workplaces in London upon its completion in Q2 2028.
Samuel Ellis, Head of UK Real Estate at ING, said:
“This is the kind of project where sustainable finance genuinely matters. This financing supports a development that materially reduces carbon while delivering high‑quality workspace. That combination is rare and it’s exactly where we want to deploy capital.”
Xylo represents a significant step-change in sustainability with everything from carbon-sequestering timber to carefully monitored deliveries to reduce overall emissions. End-of-trip facilities, a café, and high-quality cycle parking encourage active commuting and healthier daily routines. The project also boasts energy-efficient systems, low-VOC materials and natural finishes throughout.
Josh Lawrence, Chief Executive of Global Holdings Management Group UK, said:
“We are pleased to have completed this financing agreement with our trusted partners ING and follows our appointment of McLaren Construction to deliver this game-changing project. Xylo will showcase the most environmentally friendly technologies in a truly beautiful building, underpinned by a vibrant neighbourhood and abundant transport links making it the perfect workspace for leading international businesses.”
Xylo aims to achieve some of the best indoor environmental quality metrics in the UK. Centred around a 6.5m vaulted lobby, Xylo will provide 97,000 sq ft of Grade A office space all featuring beautifully crafted interiors using natural and sustainable materials throughout.
Xylo will also feature a 3,640 sq ft town hall space with bar, lounge and auditorium space, a 3,800 sq ft rooftop garden, 5 landscaped terraces with uninterrupted views across London, a café/restaurant, as well as cycle parking and shower facilities.
The building is designed to achieve LETI Pioneer, NABERS UK 5.5-star and BREEAM ‘Excellent’ certifications; taken together they represent a deep focus on building one of the most advanced environmentally sensitive building in the world. The embodied carbon levels will be 50% lower than a typical London office building and reduce operational carbon emissions by up to 82% compared to standard buildings.
The loan has been structured as a green facility, with proceeds earmarked specifically to support the project’s environmental objectives. The transaction reflects continued demand for green financing in the UK development market, particularly for projects that combine strong locations with measurable sustainability outcomes.
With deep local expertise and a strong track record in complex financings, ING remains committed to supporting the evolution of the UK real estate market. Sustainability is a key pillar of this approach, with ING working alongside clients to enhance the environmental performance and resilience of their assets, financing the transition towards more energy‑efficient, future‑proof buildings.
