Oval Real Estate has successfully secured a £136 million refinancing facility from Just Group for its ‘Kensington’ office portfolio, marking a significant milestone in Oval’s ongoing growth strategy and underscoring Just Group’s expanding presence as a real estate lender.

The three-year facility is secured against a portfolio of seven Grade A, multi-let offices located across London, Reading, Birmingham, and Bristol. Together, the assets total 705,000 square feet and have undergone substantial refurbishment over the past five years, focusing on modern design, enhanced ESG credentials, and strong income performance.

Several buildings within the portfolio are now fully let, while the remainder continue to deliver robust rental income, reflecting Oval’s effective asset management and ability to sustain occupancy rates in a challenging market environment.

This refinancing highlights Oval Real Estate’s ability to attract major institutional capital for its well-performing regional and urban office assets. It also demonstrates Just Group’s growing activity in UK commercial real estate lending, having deployed more than £250 million in the first nine months of 2025.

The transaction comes amid tightening debt markets, as life insurers and institutional lenders such as Just Group increasingly step in to provide large-scale property finance, filling gaps left by more conservative traditional banks. The deal underlines continued confidence in prime regional offices and the expanding role of institutional capital in complex refinancing structures.