Puma Property Finance has provided £45 million loan to Victory Group (“Victory”) to fund the redevelopment of a 22,000 sq. ft. highly sustainable office building on Jermyn Street in St James’s, London.

Set over eight floors, the building has dedicated retail space on the ground floor and office space above and is in the heart of St James’s, considered a prime location for this type of scheme in London.

A deep retrofit of the building will include a new front façade to bring it more in line with its neighbours, extensive upgrades to the interior, the creation of an additional office floor a large communal roof terrace and ‘end-of-trip’ facilities including showers and bike storage. The redevelopment will improve the long-term environmental impact of the building and is targeting EPC “A” rating and BREEAM “excellent”.

Victory is a London-based investment and advisory firm managing circa €5 billion in assets across Western Europe, including a major hotel redevelopment in Geneva and a mixed-use masterplan in Amsterdam. This is Puma’s first partnership with Victory, and the Jermyn Street scheme will be Victory’s first UK redevelopment.

The scheme is targeting completion in Autumn 2026.

Erik Moresco, Founder and Managing Partner of Victory Group, commented:

“The partnership with Puma is a significant milestone in bringing our vision for the site to life and unlocking the potential of this project, which exemplifies our commitment to sustainably bringing buildings back to life through thoughtful repurposing. We are pleased to be bringing our expertise and knowledge to this debut London project and look forward to delivering a product that preserves the historic fabric while delivering outstanding service and quality to the market.”

Eliot Kaye, Managing Director at Puma Property Finance, added:

“We are delighted to be supporting Victory Group on the redevelopment of this site into a best-in-class, highly sustainable office building in the heart of St James’s. The project represents the very best of modern redevelopment: a prime location, outstanding ESG credentials and a commitment to delivering long-term value for both occupiers and the local community. We look forward to seeing the Jermyn Street site come to life in the coming months and to working closely with Victory again in the future.”