"Importantly, this latest deal is testament to our commitment to focusing on exemplar architectural, design and service culture principles at the park, which continues to prove largely immune to the cyclical vagaries of the Oil and Gas market. We will continue to invest at Prime Four, with plans for an adjacent £100m retail park in addition to the further expansion of the business park with additional office complexes, services and amenities.”
Drum’s total investment at Prime Four to date exceeds £275m and will rise to £600m with over 1.8 million sq. ft. of commercial accommodation being built once the park is completed.
Edward LaPuma, Co-Founder & Managing Partner at LCN Capital Partners said:
“We distinguish ourselves in build-to-suit transactions across North America and Europe by being able to forward fund or close upon completion, and by offering our tenant-clients flexible solutions. We are pleased with our new relationship with Lloyds Register and know that they have benefitted from the extensive knowledge and development expertise of Drum Property Group. Lloyds Register’s long-term commitment to this new Class A property fits perfectly with the long-term goals of our investing partners, i.e. pension funds and insurers.”
FG Burnett, JLL and Ryden acted for Drum Property Group.
Cushman & Wakefield, Victorios, Brodies, and Arendt & Medernach acted for LCN Capital Partners.