- JMK Group is a family-run, privately owned hospitality business founded in 2009, which started as a small boutique hotel in Kensington;
- Since then, the Group’s portfolio has grown to include hotels, properties, and cafes across London and Ireland;
- The double loan from OakNorth and REL Finance has been utilised to acquire an office building in the City of London and redevelop into a 260-key hotel, subject to receiving planning permission and support on-going operations;
- JMK Group is an existing customer of both OakNorth and REL Finance, having secured a previous acquisition loan from the lenders in December 2024.
London, UK, 23rd March 2026; OakNorth, the leading digital bank for entrepreneurs, by entrepreneurs and structured real estate lender, REL Finance, have completed a £48m double co-loan to JMK Group, a leading family-run hospitality business.
Originating from a single boutique hotel in Kensington, JMK Group has steadily expanded into a diversified portfolio of hotels, properties, and cafés across London and Ireland. This new funding will support the acquisition of a nine‑storey office building in the City of London, which the Group intends to reposition into a 260‑key hotel, subject to planning approval. The capital will also fund ongoing operational initiatives.
The newly acquired site sits prominently along Lower Thames Street, offering 360‑degree views across the River Thames towards London’s most recognisable landmarks, including Tower Bridge and The Gherkin. The project aligns with JMK Group’s strategy of transforming well‑located but under utilised commercial buildings into modern assets that meet evolving demand from business and leisure travellers.
Zain Kajani, Director of JMK Group, said: “At JMK Group, we pride ourselves on being a strong privately-owned company that puts people at the heart of everything we do. We have experienced rapid business growth since our establishment in 2009 and now have an extensive portfolio which is constantly evolving. We are constantly looking towards the future; the acquisition of Peninsular House fits into our overall growth objective of growing in Central London and follows on from our acquisition of Clements Lane which is currently being developed. We are grateful to the Oak North and REL Finance teams for their support in this transaction. Following the success of our last acquisition with Oak North and REL, we knew they would once again be the right funding partner for us.”
Deepesh Thakrar, Managing Director of Debt Finance at OakNorth, continued: “JMK Group has built a strong track record of acquiring and repositioning well-located assets across London, and this latest transaction is a natural continuation of that strategy. Having supported the business previously, we’re pleased to deepen our relationship and work alongside REL Finance to deliver a flexible, tailored financing solution. The project reflects the continued demand for high-quality hotel accommodation in central London, and we look forward to supporting JMK as they bring this asset to life.”
Sumeer Bose, Director at REL Finance, added: “At REL Finance, we focus on backing experienced sponsors executing high-conviction strategies in prime real estate. This marks our second transaction with JMK and their ability to consistently identify, acquire, and reposition assets in core locations makes them a standout operator in the market. This deal reflects our approach of providing flexible, partnership led capital to support repeat borrowers in scaling their portfolios. Our continued collaboration with both JMK and OakNorth demonstrates the strength of that model, and we see significant opportunity to support similar acquisitions as the repositioning landscape continues to evolve.”
ENDS
Notes to editors
About OakNorth Bank plc
Launched in September 2015, OakNorth is the bank for entrepreneurs, by entrepreneurs. It was founded to address the persistent funding gap facing lower mid-market businesses – a segment that accounts for a significant share of economic output yet remains underserved by traditional banks.
To date, OakNorth has provided over $20bn in lending to thousands of entrepreneur-led businesses across the UK and US, supporting the creation of more than 70,000 jobs and generating more than £40bn in economic value. Throughout multiple economic cycles, the bank has maintained a highly disciplined approach to credit, delivering performance metrics that place it among the top 1% of commercial banks globally.
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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About REL Finance
REL Finance provides tailored real estate finance solutions that empowers businesses and entrepreneurs to access flexible capital that match their property aspirations. The firm provides capital across the stack at senior, mezzanine and JV levels with ticket sizes ranging from £3m to £30m. Since inception in April 2023, REL Finance has deployed capital in excess of £150m across a variety of CRE strategies including hospitality, office, prime residential and industrial.
Visit www.relfinance.co.uk for more information.
About JMK Group
JMK Group is a private family run business focusing on hospitality in the UK and Ireland. The group was started in 2009 by John Kajani opening his first 21 bedroom hotel in Kensington. Since then the Group has grown significantly and currently has 8 hotels operating under franchise with Marriott, IHG and Hilton together with their own brands. A further 6 hotels are under development which will result in the Group having 2,000+ beds in the next 2 years. The Group’s vision is constantly looking towards the future, using innovation to develop new procedures and support the rapid growth of the business using forward thinking business model suitable for generations to come, continue creating strong associations with our partners, stakeholders and customers and use sheer determination to drive sustainable business growth.
Further details can be found at www.jmk-group.co.uk