When you think of banks, you may have an image of skyscraper London offices only focusing on big city deals. But we’re not like traditional banks. We’re not even based in the financial district, you’ll find us in the beating heart of London in vibrant Soho. And outside of the capital,we’ve got hubs in Manchester, Leeds and Bristol too.
Having a regional presence has always been important to us, we launched our Manchester office at the same time as our London branch in 2015 and have since expanded with debt finance experts in the South West and East of England too. Why? Because ever since OakNorth began, we knew that supporting underserved ambition was our calling. And ambition is everywhere, not just the UK capital. In fact, the tech industry is growing at an accelerated rate outside of London with cities around the North driving the future of UK Fintech.
Supporting business growth across the UK means having local experts on the ground that know the landscape, challenges, and opportunities of each city. Our regional Debt Finance Directors have done a pretty good job so far at helping bring a broad range of innovative businesses to our attention, to help us finance everything from wool manufacturers, to lab spaces for leading research. But don’t just take our word for it, we’ve won some great awards recently that prove it.
We’ve been backing businesses making a difference in communities across the country, from Cornwall to County Durham. The knock on effect of this funding has meant we’ve helped to create new jobs, homes, attractions and work spaces, improving peoples’ lives around the UK. So let us take you on a tour of the mark our funding has had in England, Wales and Scotland, from big cities to rural areas.
Getting back to nature in Northern England and North Wales with The Inn Collection
Some of the best ways to experience the beauty of the North of England and Wales are through enjoying country walks, pub food in cosy locations and a comfy bed to return to at the end of the day. The Inn Collection is a group of hotels that focuses on providing breaks like these where the location does all of the talking, picking out some of the most renowned and scenic spots in the UK like the Lake District, Harrogate and York.
With their hotels boasting waterside views, period properties in the heart of spa towns and sites on the doorstep of national parks, we could see The Inn Collection had a winning formula with the choice of locations in their portfolio. When they came to us with their next growth plans, we were able to make their expansion plans a reality and our funding allowed them to refurbish several of their existing sites and to boost their existing property portfolio. Since receiving Oaknorth funding, the hotel group’s impact has spread across Cumbria, Wales, Newcastle and Yorkshire, with seven new hotel acquisitions made in 2022.
Going green with Verto Homes in Cornwall
Though a favourite holiday destination for its famous beaches and natural landscapes, Cornwall is increasingly in need of new homes to meet the demand for its permanent residents. And being located in a part of the country known for its natural beauty, keeping new-build homes sustainable should be a top priority for developers.
Verto Homes specialise in creating zero carbon smart homes across the South West, with the large majority sites being built in Cornwall. Verto considers how the houses they build will fit into their immediate landscape, and how they can be best designed so that they can continue to be self-sufficient for years to come. It’s why these homes have been built to create their own clean energy from solar panel roofs and use smart technology to adapt to your energy usage to reduce unnecessary waste.
We funded Verto in 2021 with a business loan that allowed them to develop two new residential schemes in Falmouth and Mylor – two coastal towns – and build much needed family and homes, with a quarter of these being affordable units.
Sweet student digs in Southampton and Aberdeen with Clearbell Property Partners
As student numbers increase across the UK, the demand and standards expected for high quality student accommodation is also rising. And for businesses with experience in managing mixed-use real estate, taking this knowledge to develop student accommodation can be a great option for expansion that you can replicate across the country.
Clearbell Property Partners already managed a strong collection of office, industrial and leisure properties, and decided to apply this to developing existing student accommodation buildings in Aberdeen and Southampton.
A loan from OakNorth meant that they were able to take advantage of this opportunity, and transform existing buildings in university towns with large student populations and raise them to the standard of the commercial properties in their portfolio. Growth plans such as these are making university cities more enjoyable for the students while they’re there, and improving the standard of the city of permanent residents with investment into the local area.
Fulfilling a warehousing gap with ASBT Warehousing in Norwich
Warehouse and storage space is vital for physical products companies as they scale, so lenders turning their attention to back industrial unit projects will make a big difference for manufacturers across the country. And as UK firms look to hold onto more stock as supply chain shortages continue, the need to back businesses building new storage space is greater than ever before. We helped to boost the supply of warehouse blocks when we funded ASBT Warehousing Ltd’s development of new units at the Snetterton Business Park near Norwich.
Already a busy industrial estate, Snetteron Business Park is a popular option for businesses operating in the East of England and wanting a strong location from which to send out supplies. With close proximity to motorways and nearby Norwich, we chose to back a business that is making things easier for other traders by providing more space. We love to fund these types of businesses as they have a knock on effect of improving conditions for other local businesses.
Making money manageable with MoneyPlus in Manchester
Now more than ever as the cost of living crisis develops people are valuing and depending upon money advice. Aiding consumers as many face difficult decisions about their financial priorities are the admirable MoneyPlus Group, who offer financial advice and legal support to those most in need. They help take individuals in significant debt and negotiate with lenders on their behalf to find them manageable repayment plans, rebuilding their confidence and credit scores in the process.
The Manchester-based group are lifting people around the country out of overwhelming debt and onto a realistic path that they can stick to. We contributed in part to the impact they’re making on people’s lives with our business loan that has allowed them to scale up their operations in response to increased demand.
We’re responsible lenders that look at strong businesses from across the UK, so if you’ve got the knowhow to back up your growth plans, we’ve got the funding to make these plans a reality. Find out more about how our business loans can set you up to make a difference in your community.
