Firma Partners Provides £78.1m for City of London’s First Co-Living Scheme

Firma Partners has provided a £78.1m development facility to support Hub and Bridges Fund Management on 45 Beech Street, the City of London’s first purpose-built co-living scheme. The project will transform a 1950s office building on the edge of the Barbican into 174 co-living homes, forming part of the City’s broader strategy to introduce more residential life into the Square Mile. Rather than introducing an equity partner, the sponsors elected to progress the scheme with a whole-loan structure from Firma Partners, reflecting confidence in both the asset and the long-term fundamentals of ultra-urban living.

The facility has been structured to align with the practical realities of development in today’s regulatory environment, including the Building Safety Act Gateway process. Flexibility around drawdowns, timing and leasing was a key consideration, ensuring the capital structure supports progress rather than constrains it. This transaction reflects Firma Partners’ approach to backing highly experienced sponsors with bespoke funding solutions where complexity, regulation and delivery risk require thoughtful structuring and close lender engagement throughout the life of the project.

Press:

https://greenstreetnews.com/article/citys-first-co-living-scheme-secures-78m-debt-as-funding-hunt-begins-for-second

https://www.costar.com/article/2032215189/development-loan-secured-for-first-coliving-scheme-in-city-of-london