Hospitality
OakNorth increases support for Third Space with £75m leveraged finance loan – its largest to date – to fund future club expansion
The deal follows OakNorth’s original £38.5m co-lend in June 2023, reaffirming its long-term partnership with Third Space and confidence in the group’s strong growth trajectory and operational delivery; Third Space has grown to 13 high-end clubs across London, with the very successful recent openings demonstrating the group’s disciplined expansion strategy, and the underlying latent demand […]
Hospitality
Ancoats Manchester secures £15.7m from OakNorth to deliver new Hilton Motto Hotel in Manchester
Ancoats Manchester has secured a £15.7m development and trading facility from OakNorth to deliver a 154-key Motto by Hilton hotel in Manchester city centre; The hotel will be one of the first Motto-branded properties in the UK, targeting modern, urban travellers with flexible room formats and a tech-enabled guest experience; The project is backed by […]
Hospitality
OakNorth participates in club loan to Fortress and Lion Capital to support acquisition of Loungers, which plans to roll out 30 new sites a year
OakNorth – the leading bank for entrepreneurs, by entrepreneurs – has participated in a club loan to support Lion Capital and Fortress Investment Group’s Public to Private acquisition of Loungers, one of the UK’s fastest-growing all-day café-bar operators.
Hospitality
OakNorth has provided a £6.4m loan to pioneering hospitality business, Rocket Leisure, to support its future expansion
• Founded in 2010 by brothers, Russell and Howard Taylor, and their business partner, Tom Jackman, the business has since grown to four sites across London; • Across all four venues, they put on over 1,000 gigs a year, attracting over 6,000 customers each week; • The capital from OakNorth will enable the business to […]
Hospitality
OakNorth completes £1.47m loan for development of a Starbucks drive-thru and two EV charging points in established Greater Manchester retail park
The borrowing entity, Fairmilehead Ltd, is owned and led by Dallas Rhodes, who has over 30 years’ experience in the property industry, across retail, office, and residential; The site, Parsonage Way, is an established retail park in Leigh, Greater Manchester with neighbouring retailers including Greggs, Halfords, Costa, Sainsburys, TK Maxx and KFC; Starbucks has a […]
Hospitality
SGS Group completes refinancing of four major shopping centres following £445m club loan from OakNorth
The four shopping centres are: Lakeside in Essex, Atria in Watford, Victoria Centre in Nottingham, and Braehead in Glasgow; With a catchment population totalling 9.4m the sites are four of the leading shopping centres nationally; Average occupancy rates for the sites have increased to 93%, with tenants consisting of international and national retail brands, including […]