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 […]
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 […]