- Founded in 1984 by Laurence Kirschel, The Consolidated Group specialises in redeveloping real estate throughout central London’s Soho and Covent Garden areas;
- The Group’s current portfolio totals c.£2.0b;
- The loan facility, introduced by Avier Capital Limited, was arranged and co-funded by The Mezz Lender and OakNorth Bank and will refinance the mixed-use site located at 90-100 Wardour Street;
- The property is situated on one of Soho’s busiest streets within close proximity to Tottenham Court Road, Oxford Circus and Leicester Square Tube stations.
OakNorth Bank, the digital bank for entrepreneurs, by entrepreneurs and principal mezzanine finance lender, The Mezz Lender, who acted as the Arranger on the transaction, have provided a £15m loan to The Consolidated Group, to refinance Soho’s famous 100 Wardour St address.
Located at 90-100 Wardour Street, the property is situated on one of Soho’s busiest streets and is within close proximity to Tottenham Court Road, Oxford Circus and Leicester Square tube stations. The site consists of the famous lounge, bar and restaurant 100 Wardour Street, offering guests live music and cocktails on the ground floor and basement, as well as 11 residential units are spread across the upper four storeys.
Founded in 1984 by Laurence Kirschel, The Consolidated Group specialises in redeveloping real estate throughout central London’s Soho and Covent Garden areas. By combining lateral thinking and innovative ideas to maximise the potential of all sites it acquires, the Group’s portfolio totals c.£2.0b.
Laurence Kirschel, Director and Founder of The Consolidated Group, commented: “100 Wardour is a legendary address within London’s Soho. Dating back to the 1960’s, the site was once used as the famous music venue, The Marquee Club, which hosted music acts such as, David Bowie, The Rolling Stones, and Jimi Hendrix. Today, the site is one of the most popular mixed-use schemes in Soho, and we’re delighted to be part of its rich history. The capability of The Mezz Lender and OakNorth to work together to deliver us a truly bespoke package that provided all our funding requirements under one facility has been invaluable. We look forward to working with both of them in the future.”
Lucas Anglin, Associate Director at OakNorth Bank, added: “We’re delighted to have the opportunity to support one of Soho and Covent Garden’s most distinguished and experienced property developers. The Consolidated Group has built a truly remarkable business and we look forward to continuing to support the business with its future projects throughout 2023 and the years ahead.”
Simon Pollins, CEO of The Mezz Lender, said: “We are always happy to support professional and experienced property developers and investors, such as The Consolidated Group. The Property is in an iconic location in Soho and the sponsor’s pedigree is first class. Being a principal lender, allowed us to make a quick and informed decision to lend, and we were delighted to bring onboard our partners at OakNorth Bank. Thanks as well to Avier Capital for the introduction to this deal.”
ENDS
Notes to editors
About OakNorth Bank plc
Launched in September 2015 and founded by entrepreneurs, OakNorth Bank provides fast, flexible, and accessible debt finance to the UK’s Missing Middle.
Since its launch, the bank has:
- Lent over £8.5bn, directly helping with the creation of 37,000 new jobs and 27,000 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.
Media contact
Tom Pavey-Smith, Associate Director, Growth & Communications – [email protected] / [email protected] / 0791 716 5588
About The Mezz Lender
The Mezzanine Lending Co. Limited (‘The Mezz Lender’) is a principal mezzanine finance lender which is co-founded and funded by the Sydney & London Group. Our team has:
- Over 50 years’ combined experience in the property industry and over 15 years specialising in mezzanine development finance.
- Lent over £38m to property professionals over the past 2 years
In addition to mezzanine finance, we can support clients further with a range of bridging finance solutions for experienced property developers.
Visit www.themezzlender.com for more information
Media contact
Simon Pollins, Chief Executive Officer – [email protected] / 07765 892 782
About Avier Capital Limited
Avier Capital is an independent real estate finance advisory boutique based in London, providing reliable and competitive debt and equity capital solutions for investment and development projects for all real estate asset classes in the United Kingdom and continental Europe.
Since its launch in January 2021, Avier Capital has:
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Arranged over £225,000,000 in real estate debt for UK projects since its inception, including the financing of The Soho Hotel and the Yotel Shoreditch
Visit www.aviercapital.com for more information.