Hospitality
OakNorth Bank completes £15M acquisition facility to Red Oak Taverns initially to acquire 11 pubs across the South East of England
Red Oak Taverns was founded by Aaron Brown and Mark Grunnell in 2011 who continue to provide most of the day-to-day executive management resource to the group; A portion of the capital from OakNorth Bank has already been used to acquire 11 pubs across the South East of England, including a portfolio of 9 pubs […]
Hospitality
OakNorth Bank completes £4.8m loan to private equity-backed boutique hotel brand, House of Gods, to open new hotels in Manchester and Glasgow
Founded by brothers Mike and Ross Baxter in September 2019, House of Gods Hotel in Edinburgh was named Sunday Times Best Hotel in Scotland 2020[1]; In February 2021 the business secured a £5m investment from IMBIBA, the specialist operator-led leisure and hospitality sector investor, to expand the brand; This, coupled with the capital from OakNorth […]
Hospitality
OakNorth Bank provides bespoke debt finance facility to Bain Capital Credit and Orka to acquire Park Lane Mews Hotel and residential units in Mayfair
The capital will be used to acquire and refurbish the 72-room Park Lane Mews Hotel and 17 adjacent residential units in the heart of Mayfair; The refurbishment and repositioning of the hotel and residential units will transform the historic establishment, which is a stone’s throw from Hyde Park, into a unique hotel offering; UK hotel […]
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; […]