Cheyne Capital has provided a £171 million senior loan to support the redevelopment and lease-up of the YY building, a major office project located in the heart of Canary Wharf, London. The funding underlines Cheyne Capital’s continued commitment to real estate lending in prime London locations and reflects strong investor confidence in high-quality workspace demand in major business districts.

The YY building, formerly known as 30 South Colonnade, is undergoing a comprehensive transformation into “YY London,” offering 408,000 sq ft of modern office space, ground-floor amenities, and a rooftop garden. The redevelopment, led by Quadrant and Oaktree Capital Management, focuses on renovation rather than demolition, significantly reducing the project’s environmental impact.

Designed by BuckleyGrayYeoman, the scheme aims to create a sustainable, contemporary, and highly attractive business environment, catering to the evolving needs of London’s workforce.

The £171 million senior loan provided by Cheyne Capital will support the lease-up phase of the development, reinforcing the firm’s strategic focus on large-scale, sustainable office projects in the UK’s leading commercial hubs. The transaction highlights Cheyne Capital’s confidence in the long-term appeal of flexible, high-quality office space in central business districts, even in the post-pandemic landscape.