Developer Derwent London has completed an £83m re-financing deal.

The company has completed an £83m refinancing of 2-8 Fitzroy Street in London’s Fitzrovia (pictured), which is fully leased to engineer Arup, and the Radisson Blu Edwardian Grafton Hotel on Tottenham Court Road with Cornerstone Real Estate Advisers.

The loan was arranged by Laxfield Capital and has a fixed interest rate of 3.99%. It will run for 12 years.

The new loan provides further diversification of funding sources for Derwent London.