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OakNorth Bank agrees £16.5m facility with Mumbles Group to refinance three operating assets and acquire two new petrol filling stations with convenience stores in Newquay and Guildford
The facility will allow capital to be released into Mumbles Group and allow them to grow their business through the acquisition and redevelopment of two new sites in in Newquay and Guildford; Mumbles Group has a good track record in this sector, having completed seven projects in this space since 2014; Forecourts are an important […]
OakNorth Bank completes £26.3m loan to leading real estate fund manager, Frogmore, for development of new dementia care home in Westminster
OakNorth Bank has completed a transaction with Frogmore, one of the UK’s leading real estate investment managers, to develop a 35-bedroom specialist dementia care home; The development, which secured planning permission In July, is only a short walk from Bayswater underground station and Hyde Park; Frogmore’s first care home project, Chelsea Court Place, is at […]
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 […]
OakNorth Bank and ASK Partners complete a £6.35m loan for new 112-bed Purpose Built Student Accommodation in Falmouth, Cornwall
Real estate finance specialist ASK Partners has provided funding to Hydrogen Falmouth, the student living arm of a leading property investment and development company, alongside a Coronavirus Business Interruption Loan (CBIL) from OakNorth Bank; The finance will be used to develop a new five-storey, 112-bedroom Purpose Built Student Accommodation (PBSA) within Falmouth’s town centre; HMO […]
OakNorth Bank completes £7m partial CBILS loan to support the sale of 21 homes in Weybridge, Surrey
The £7m marketing bridge facility (£5m CBILS and £2m non-CBILS) will be used to refinance existing debt and allow time for the sale of 21 residential units in Surrey; The residential units form part of a 5-storey mixed-use scheme, comprising of 46 flats and two retail units on the ground floor; The site, located on […]
OakNorth Bank completes £6.55m property development facility and partial CBILS loan for new luxury residential units in Hampstead
The capital will be used to develop six new luxury residential units in Hampstead; £5m of the capital has been provided under the British Business Bank’s Coronavirus Business Interruption Loan Scheme (CBILS), while the remaining £1.55m is non-CBILS; According to the latest analysis from Savills, demand for homes with more indoor living space as well […]
