Hospitality
OakNorth Bank provides £9M loan to fund the acquisition and refurbishment of a 4-star hotel in Warwick, West Midlands
The hotel is currently operated as the M40J15 Warwick Hotel, but will rebrand in September as Delta by Marriott hotel; It will be managed by Countrywide Hotels, a hotel management and consultancy business which manages c.30 hotels across the UK; Given its proximity to Stratford-upon-Avon, Warwick Castle and Birmingham Airport, as well as its broad […]
Hospitality
OakNorth Bank provides £5.5M loan to Thai Square Hotels as the business seeks to expand its portfolio in London
Thai Square Hotels is part of Rossmoregate Group, which is known for its chain of restaurants, Thai Square; The capital from OakNorth Bank will refinance an existing loan on a 4-star hotel within Thai Square’s portfolio, Hotel Indigo London – Tower Hill, which is managed by IHG; It will also support Thai Square Hotels’ future […]
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 […]