Outernet
Background
The Outernet is a mixed-use development on Denmark Street, also known as Tin Pan Alley, comprising restaurants, a rooftop bar, a boutique hotel, a 2,000-capacity subterranean music venue and the world’s largest LED screen within the Now Building. The scheme was valued at approximately £850 million at the time of the transaction.
Consolidated Developments secured a £450 million, five-year loan from CarVal Investors and Credit Suisse to refinance existing debt and provide additional funding for the development.
What We Did
Advised CarVal Investors on the financing opportunity, undertaking comprehensive property due diligence and a full underwriting of the asset and its business plan. This provided CarVal with a detailed understanding of the investment, associated risks and proposed loan structure.
Outcome
The £450 million loan completed in December 2021 and was one of the year’s largest property financing transactions.
- 1.1 acre
- Size
- London, W1
- Location
- CarVal
- Capital Partner
- Past
- Status
- Debt Underwrite
- Sector
Meet the team
Meet the team who worked on the Outernet project
Vanessa is Chief Investment Officer and a member of Quadrant’s Executive Team, helping to shape the firm’s investment strategy and support its continued growth. Since joining Quadrant in 2014, she has worked across a wide range of real estate projects and sectors, advising investors, landowners and development partners on how to create and unlock value. Her experience spans investment, development, asset management and capital partnerships. Vanessa began her career at CBRE, where she qualified as a Chartered Surveyor (MRICS), and brings a pragmatic, commercially minded approach to investment and real estate strategy.
John specialises in the retail sector. At Quadrant, his principal focus is to lead asset management, leasing and occupier relationships as well as retail and leisure investment underwriting, acquisitions and disposals. John was previously Head of Retail Warehouse Asset Management at British Land PLC and was responsible for managing the company’s large portfolio of retail parks and shopping parks.
Pei-Wen started her career at Rothschild in 2012 in Debt Advisory across Infrastructure and Real Estate in Europe, before joining Almacantar in 2014 as their Corporate Analyst, and later spending two years in Supply Chain Strategy at Sainsbury’s.
She joined Quadrant in 2020, where she now leads the Transactions team – overseeing, deal underwriting, investor and lender reporting, and leading debt and equity transactions.