HB Reavis is an international workspace provider, operating across several European markets. Established in 1993 in Slovakia, the company’s mission is ‘to create personalised experiences through real estate with enduring positive impact on people, communities and the environment.
Recognising that ‘40% of global carbon footprint is caused by the built environment’¹, HB Reavis is taking a proactive approach to set decarbonisation targets that have been validated by the Science Based Targets initiative (SBTi).
In 2024, HB Reavis engaged with HSBC to refinance the development facility on its Worship Square development.
Sustainability at HB Reavis | Worship Square
HB Reavis has established their own 2030 carbon reduction targets, focusing on reducing embodied, operational and corporate emissions. Air source heat pumps will reduce the building’s operational energy through efficient heating, cooling and smart modelling.
With an expected 50% reduction in embodied carbon compared to the current industry benchmark, the building’s infrastructure supports both tenants and the company's sustainable initiatives.
“Our long-term relationship with HSBC UK has enabled us to successfully refinance Worship Square. This supports our growth plans to continue building sustainable developments of the future in key European cities.”²
- Steven Skinner, Chief Executive, HB Reavis Development
Deal Structure
- HSBC UK provided a Green Investment Term Loan facility for HB Reavis, to refinance the development costs of Worship Square – a 140k sq ft office building.
- Committed to reducing carbon emissions, Worship Square has been constructed using 480Kg CO2e/m2 upfront carbon, more than 50% ahead of the LETI 2020 baseline.⁴
- The sustainability credentials held to the building enabled it to qualify for green financing through achieving an EPC A. The project is also set to achieve a BREEAM Outstanding and WELL Platinum rating and is designed to achieve NABERS 5.5*.
- Initiatives including encompassing photovoltaic cells providing renewable energy, planting over 3,200 plants providing ‘green spaces’ blurring the line between indoor and outdoor space, and urban allotments to transform employees organic waste into compost for terraces, help occupiers achieve their own sustainability goals by actively reducing their own carbon footprints.²
- HB Reavis has aligned its debt facility to the Loan Market Association’s Green Loan Principles and continues to work closely with the Science Based Target initiative (SBTi).
“We were thrilled to build on our relationship with HB Reavis with this latest refinance. In addition to its sustainability credentials, Worship Square features one of the first affordable workspaces in Hackney. We look forward to seeing more of these developments as HB Reavis expands its footprint across Europe.” ²
- Alan Knight, Relationship Director, HSBC
Today we finance a number of industries that significantly contribute to greenhouse gas emissions. We have a strategy to help our customers to reduce their emissions and to reduce our own
1 https://hbreavis.com/en/sustainability
2 https://hbreavis.com/uk/media/hb-reavis-latest-low-carbon-development-reaches-practical-completion