Hospitality
OakNorth Bank provides £1.7M loan to Lancashire aparthotel which has provided vital accommodation to key workers over the last year
When HY Hotel in Lancashire opened in December 2019, it created 20 new jobs, but when the pandemic hit, the hotel was forced to close to the general public; Rather than having rooms remain empty and unused, the hotel provided heavily discounted rates on apartments to all NHS staff and key workers traveling for work; […]
Hospitality
OakNorth Bank completes bespoke facility for the acquisition and redevelopment of the Grade II-listed Dumbleton Hall Hotel in the Cotswolds
Built in the mid-1800’s as a classic stately home, Dumbleton Hall became a hotel post WWII, offering 39 rooms, a wide variety of event spaces and 19 acres of gardens, woodland and lake; The project is being led by the team behind Chatham Park Development, a US based property developer; The redevelopment will see the […]
Hospitality
OakNorth Bank agrees £16.5m facility with Mumbles Group to refinance three operating assets and acquire two new petrol filling stations with convenience stores in Newquay and Guildford
The facility will allow capital to be released into Mumbles Group and allow them to grow their business through the acquisition and redevelopment of two new sites in in Newquay and Guildford; Mumbles Group has a good track record in this sector, having completed seven projects in this space since 2014; Forecourts are an important […]
Hospitality
OakNorth Bank completes £30m loan to Staycity
Staycity’s fast-expanding estate includes properties in Berlin, Birmingham, Dublin, Edinburgh, Liverpool, London, Lyon, Manchester, Marseille, Paris, Paris Marne-la-Vallée (near Disneyland Paris), Venice Mestre, and York; In 2019, Staycity’s turnover grew 14% to €78m, with EBITDA rising around 11% with like-for-like occupancy of 87% and the company’s strongest ever guest satisfaction scores; Until the coronavirus pandemic […]
Hospitality
OakNorth Bank completes £50m loan to Arora Group, the leading property and hospitality business founded by prominent businessman, Surinder Arora
Founded in 1999 by British Indian businessman, Surinder Arora, the Arora Group is a successful UK-focused private group of companies specialising in property investment, construction and hotels; It currently has a portfolio of 30 properties across the UK, including the InterContinental at The O2, Fairmont Windsor Park, and more than a dozen hotels across Heathrow, […]
Hospitality
OakNorth Bank completes loan to The Jade Hotel, a family-run hotel in South Kensington, to fund expansion and renovations
The Jade Hotel has secured a loan to redecorate its 30 bedrooms and add another five, refit its bathrooms, and make repairs to the roof and front exterior; The hotel has been in operation since 1984 and is run by the Khalid family, who converted it from a 5-storey terraced house into a 30-bedroom hotel […]