About Us
Andrew Antoniades
Fund Advisor - Executive Director
Andrew established and leads CBRE’s Lending platform within the Investment Advisory service line. He specialises in enabling investors to deploy their capital as debt, establishing specific lending strategies for them, then structuring and managing loans on their behalf.
T: +44 207 182 2587
William Church
Fund Advisor – Senior Director
William has been involved with the Evergreen Fund from its inception. William specialises in linking public and private funding to create results for Borrowers and the Public Sector alike.
T: +44 207 182 2867
Herbin Duffield
Fund Advisor – Associate Director
Herbin is responsible for underwriting Evergreen loans and reporting progress to the Evergreen Board.
T: +44 207 182 8381
What we fund
The fund has been set up to provide development debt for a wide range of commercial, energy efficiency, low carbon energy generation, regeneration property and infrastructure projects within Greater Manchester, Cheshire & Warrington and Lancashire. The Fund is supported by the European Regional Development Fund programmes 2007-2013 and 2014-2020, JESSICA Programme as well as by 16 local authority partners. The fund is seeking to invest in projects where there is a clear benefit to the local employment, regeneration, environmental and economic prospects that cannot access debt from traditional sources.
The fund was established in 2011 and has supported 21 projects with an average project IRR of in excess of 5% in addition to meeting and exceeding all socio-economic targets:
- Business Rates pa £32m
- Business rates accelerated: £97m
- Employment Space 715,750 sq m
- Jobs supported: 29,750
- Brownfield land redeveloped: 70ha
How Evergreen is Funded
Evergreen is a public sector owned fund that provides debt for development projects that support the regional economy through provision of employment space. The source of capital is from the European Regional Development Fund (ERDF) and other match funding. Total funds under management by CBRE under the Evergreen umbrella are £140m. This is made up of funds provided by Evergreen 1, Evergreen 2, Cheshire and Warrington Evergreen Fund and the Low Carbon Fund.
Evergreen 1
The Evergreen 1 fund was capitalised with investment from the 2007 to 2013 North West ERDF Programme which sought to enhance the competitiveness of the region’s economy by supporting growth in enterprise and employment. Following the end of the programming period the fund is continuing to reinvest the returns into new development projects.
The 2007 to 2013 ERDF Programme in England is managed by the Ministry of Housing, Communities and Local Government. For further information please visit: https://www.gov.uk/guidance/erdf-programmes-progress-and-achievements
Evergreen 2
The project has been funded from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. the Fund is capitalised from priorities: 1a: Enhancing research and innovation infrastructure and capacaties to develop research and innovation excellence, and promoting centres of competence, in particular those of European interest. 4b: Promoting energy efficiency and renewable energy use in enterprises. The Ministry of Housing, Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
Cheshire and Warrington Fund
The project has been funded from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding. The Fund is capitalised with ERDF from priorities: 1a: Enhancing research and innovation infrastructure and capacaties to develop research and innovation excellence, and promoting centres of competence, in particular those of European interest. 3c: Supporting the creation and extension of advanced capacities for products, services and development. 4b: Promoting energy efficiency and renewable energy use in enterprises.
Low Carbon Fund
The project has been funded from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding. the fund is prioritised from 4a: Promoting the production and distribution of energy from renewable sources.
The Fund Advisor
The fund is advised by CBRE Investment Advisory team. CBRE is a leading real estate advisory firm. CBRE’s role is to source and evaluate potential investments for the fund, as well as manage and monitor the developments over the investment life-cycle. For more information about CBRE, please visit the CBRE website.
CBRE IISL is a regulated arm of CBRE
