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Despite the ongoing challenges of COVID-19, OakNorth Bank lent £1.1B to the Missing Middle in 2020 and saw pre-tax profits increase to £78M
Since its launch in September 2015, OakNorth Bank has lent over £5.1B to the Missing Middle[1], directly helping with the creation of over 22,500 new jobs and more than 17,600 new homes (the significant majority of which are affordable and social housing)[2]; In 2020, the Bank lent £1.1B to the Missing Middle, supporting hundreds of […]
OakNorth Bank provides £25.4m loan to Scarborough Group International for the development of a major new office building at Thorpe Park Leeds
Founded by the McCabe family in 1980, Scarborough Group International (SGI) has grown from a UK-based real estate developer and investor into a global organisation with an award-winning portfolio of projects; Due to Thorpe Park, Leeds’ community resources and proximity to Leeds city centre, the team has already secured a 15-year lease agreement with Lowell, […]
OakNorth Bank completes £4m loan to Cheshire-based financial advisory firm, Cullen Wealth, to support a management buy-out
Founded in March 1998 by Richard Cullen, Cullen Wealth provides investments, pensions and tax planning services to both individuals and businesses; With over 3,000 clients and assets under management (AUM) exceeding £1bn, the firm is one of the largest independently-owned financial advisory firms in the UK; Cullen Wealth’s client investments continue to show resilient performance […]
OakNorth Bank provides £5.5m loan to family-run property business, Baxter Homes, to support the development of a new residential scheme in Lancashire
The capital from OakNorth Bank will support the development of 19 new homes within Oak Hill Rise, Baxter Homes’ new residential scheme in Garstang; Houses built by small and medium-sized firms has fallen 50% between the 1980’s and 2008[1], as a result of them not being able to access the finance they need to grow; […]
OakNorth Bank completes £10.3m loan to refurbish a vacant office building in Croydon which has been pre-let to London South Bank University
The capital from OakNorth Bank is funding the refurbishment of Electric House in Croydon which has a GDV of £30m and will be completed this summer; The property is a grade II listed office building and electricity showroom which has been vacant since 2013, but has been pre-let to London South Bank University (LSBU); In […]
OakNorth Bank completes £10m property investment facility with global investment manager, L1 Capital, to support capital expenditure and invest in new value-add assets
Established in Melbourne in 2007, L1 Capital is a global investment manager with approximately $3bn AUM, whose clients include large retirement funds, HNW individuals and retail investors; The capital will be used to support a capital expenditure program and also support future investments for its third property fund, L1 U.K. Residential Property Fund III that […]
