- The borrower, Gatehouse Hub Ltd, is a subsidiary of Bedford Park Developments;
- Incorporated in 2006, Bedford Park Developments is an experienced developer having successfully delivered numerous residential and commercial schemes;
- The site, located on the outskirts of Burgess Hill, has direct links with the A273 dual carriageway link road and A23, providing swift access to Gatwick Airport;
- OakNorth completed a £6m loan to the firm in August 2024 to fund phase one of the development, compromising of 19 industrial logistics units.
OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £3.7m loan to returning customer, Gatehouse Hub Ltd to fund the development of a further 20 industrial logistics units and a wellness centre, on the outskirts of Burgess Hill in West Sussex. This follows the £6m facility OakNorth provided in August 2024 to fund phase one of the scheme, comprising of 19 industrial logistics units spread over 43,487 sq. ft.
The project is again being led by Bedford Park Developments. Incorporated in 2006, Bedford Park Developments has experience in all aspects of planning, land promotion and development, including large residential land releases, bespoke residential schemes, commercial developments, affordable housing and community asset delivery, retail, retail parks, and leisure. Since 2018, the business has secured consent for and sold c.1,000 residential units over a variety of sites including undertaking a several developments- ranging from smaller schemes with up to 15 units, to larger ones with up to 300.
The site – the Gatehouse, located at Gatehouse Lane, Goddards Green, Hassocks, BN6 9LE – is within the Northern Arc extension to Burgess Hill, which comprises of a range of new commercial, trade, research, and residential schemes. It has direct links to the A273 dual carriageway link road and A23, providing fast access to Gatwick Airport, Brighton, and the South Coast. All units in phase two are being designed to achieve a minimum EPC rating of B and BREEAM Excellent certification, ensuring long-term energy efficiency and sustainability.
Ben Ellis, Director of Gatehouse Hub and Bedford Park Developments, commented on the transaction: “Having successfully delivered the first phase of The Gatehouse with OakNorth’s support, we’re delighted to be partnering with them again for phase two. The strong pre-lets and sales achieved in phase one demonstrate clear demand for high-quality, sustainable industrial and logistics space in this part of West Sussex. With excellent connectivity to the A23 and Gatwick Airport, the scheme has attracted a wide range of occupiers, and this next phase will help us continue meeting that demand.”
Lucas Anglin, Director of Debt Finance at OakNorth, continued: “We’re pleased to be deepening our relationship with Ben and the Bedford Park Developments team. Their delivery of phase one — completed on time, to a high standard, and with strong leasing momentum — gives us full confidence in their ability to execute phase two successfully. The Gatehouse is an excellent example of how OakNorth’s flexible capital can support experienced developers in bringing well-located, sustainable industrial schemes to market.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $18bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 61,000 jobs, and over 36,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Visit www.oaknorth.co.uk for more information.
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