OakNorth completes loan to Wirefox Real Estate Group to support the acquisition of the Ardgowan Hotel in St. Andrews, Scotland.
OakNorth, the bank for entrepreneurs, by entrepreneurs, has provided a business loan to Wirefox Real Estate Group (“Wirefox”) to part-fund the acquisition of The Ardgowan Hotel in St Andrews.
The Ardgowan Hotel is a Scottish Tourist Board 3-star rated accommodation, centrally located within walking distance of the University of St Andrews and the world-famous Old Course. The B-listed Georgian townhouse was designed by Scottish architect George Rae, and the hotel comprises of 29 en-suite bedrooms, with a further seven in the adjoining Pilmour hotel. Its Playfair’s Restaurant and Steakhouse has been awarded an AA Rosette every year since 2015, and the hotel also has a bar and outdoor terrace. The hotel has been family operated for the last two decades, and managed to continue operating through the COVID-19 pandemic.
About Wirefox Real Estate Group: Founded in 2014, Wirefox is a real estate investment and development company across asset classes (commercial, retail, hotel, and residential) with a concentration on the UK and Irish markets.