- Spread over 475 acres, Beaverbrook is consistently ranked as one of the UK’s best hotels;
- The capital from OakNorth will help refinance existing facilities and fund future growth.
18 January, 2024; London, UK: OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £52m loan to Beaverbrook, the award-wining and quintessentially English country house estate nestled in the heart of the Surrey Hills. The capital from OakNorth will help refinance existing facilities, and fund future growth.
Beaverbrook is spread over 475 acres, and boasts 57 rooms, four restaurants, two bars, tennis courts, a private cinema and The Coach House Spa with a full range of facilities including indoor and outdoor pools. Just 22 miles from central London, nearby attractions include the National Trust’s Box Hill, Polesden Lacey and Leith Hill, Bocketts Farm, Denbie’s vineyard and RHS Wisley Garden. It also has an on-site kids’ club, run by Sharky & George, which hosts a range of activities such as bug hunting and den building, meaning parents can relax while their kids enjoy one of the many activities on offer.
Joel Cadbury, co-founder of Beaverbook Holdings Limited, commented: “We are grateful to the team at OakNorth who have built an in-depth understanding of Beaverbrook and are delighted to have refinanced our debt on terms that reflect the maturity of our business and the completion of development works. As a founder-led business, they truly understand what founders like me are looking for in banking partners. We have worked with OakNorth before, to fund previous ventures, so know that we are getting a team that is commercial, collaborative, and consistent.”
Deepesh Thakrar, Senior Director of Debt Finance at OakNorth, continued: “Given the current cost-of-living crisis, many banks would simply veto doing anything in the hospitality or luxury space, but OakNorth has once again proven that it’s able to identify the gems in every sector. Beaverbrook is a phenomenal business backed by incredibly successful, experienced, and proven founders. They proved their resilience and commitment through COVID, managing to build a highly profitable business in a highly competitive space.”
Notes to editors
Launched in September 2015, OakNorth is transforming how entrepreneurs grow their businesses by providing them with access to much-needed credit and personalised banking services. It leverages data and analytics to apply larger company lending strategies to smaller and mid-size growth companies (£1m-100m revenue) with big ambitions, to help them expand and innovate.
Since its launch, the bank has:
· Lent over £10b to these businesses, directly helping with the creation of 40,000 new jobs and 29,000 new homes across the UK.
· Raised deposits from c.175,000 savers.
· Supported several hundred businesses across the UK with the debt finance to pursue their growth ambitions.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.