Hospitality
OakNorth Bank provides £2.6m loan to national pub operator, Red Oak Taverns
As an accredited lender under the British Business Bank (BBB), OakNorth Bank was able to disperse the funds through the government’s Coronavirus Business Interruption Loan Scheme (CBILS); To address the impact of COVID-19, Red Oak Taverns has taken this loan as a standby facility to ensure the business has the required liquidity to deal with […]
Hospitality
OakNorth Bank lends £3.7m to Signet Hotel Group for the refurbishment of Grade II-listed, Mitre Hotel, at Hampton Court
Having acquired The Mitre Hotel in January 2020, Signet Hotel Group has secured a loan from OakNorth Bank to refurbish the 36-bedroom hotel and upgrade it from a 3 to a 5-star establishment; The hotel, which is due to re-open in September, has a 60-cover riverside restaurant, a 70-cover brasserie and bar, a 80-cover Orangery, […]
Hospitality
OakNorth Bank provides £27m funding for the development of a new 12-storey aparthotel in Aldgate, operated by Edyn Group
The Edyn Group was sold last year for approx. £430m making it the largest investment in the UK aparthotel sector to date; The new development will consist of 103 units, office space on the mezzanine level and a ground floor restaurant; The site is a short walk from Aldgate East Station and the new Crossrail […]
Hospitality
OakNorth Bank completes £3.54m loan to property joint venture to fund the development of a new aparthotel in Oval, London
The deal is with a joint venture between MELT Homes, which has built over 100 properties in London Gloucestershire and Kent, and Espalier Ventures; The capital will be used to fund the acquisition of a mixed-use property in Oval, and in its place, develop an aparthotel of up to 175 units, subject to receiving planning […]
Hospitality
OakNorth Bank completes £1.1m loan to entrepreneur brothers for launch of a new boutique hotel brand – starting with a 22-bedroom hotel in Edinburgh
Founded by Mike and Ross Baxter, BXTR launched in August 2014 with a 46- bedroom hostel in Edinburgh, followed by the opening of the 105-bed-roomed Kip Hotel in East London; With this finance from OakNorth Bank, the brothers have launched a new boutique hotel brand – House of Gods – starting with a 22-bedroom, four-star hotel […]
Hospitality
OakNorth Bank lends £2.8m to hoteliers Simon Rhatigan and Simon Kershaw to launch new hotel brand, starting with a 59-bedroom hotel in Scarborough
The loan will partially finance the acquisition of an existing hotel and fund its conversion into a 59-bedroom boutique hotel; The new hotel brand – Bike and Boot – will provide a modern leisure escape with funky interiors, a range of unique facilities, and affordable prices; The experienced duo plan to open four hotels under […]