UK: OakNorth Bank has provided a bespoke debt finance facility to Bain Capital Credit and Orka for the purchase and refurbishment of properties in central London. The properties to be purchased with this aid are the Park Lane Mews Hotel, a 72-room four-star hotel, and three residential buildings, which include
BHN speaks to Deepesh Thakrar, senior director of debt finance at OakNorth Bank, about the current lending market and post-lockdown recovery. What’s been the take up so far of the RLS (Recovery Loan Scheme), and how does it differ from CBILS (Coronavirus Business Interruption Loan Scheme)? “As we’ve only recently
BHN spoke to Deepesh Thakrar, senior director of debt finance at OakNorth Bank, about the firm’s lending activities over the last few months and the future prospects of the sector. • What has been the uptake of schemes through OakNorth Bank? “It’s been incredibly well received. We’ve had about £150
UK: OakNorth Bank has approved over £600 million in new loans since lockdown began, and the British Business Bank has since approved an additional CBILS allocation. The Coronavirus Business Interruption Loan Scheme (CBILS) is available to UK businesses with a turnover of no more than £45 million per yer. Since
UK: Nine Hotel Group will convert the old Menzies Chequers Hotel close to Gatwick Airport into a new 131-bedroom Marriott-branded hotel. The new Four Points by Sheraton (Marriott), located in Horley, Surrey, will have its own restaurant, eight event rooms and 200 parking spaces. The former Chequers Hotel has been
UK: Inn Collection Group has secured a £42 million loan from OakNorth Bank to refurbish 13 inns within the portfolio and continue its redevelopment plans. The Black Swan in Helmsley and The Pheasant Inn in Bassenthwaite have recently reopened following refurbishment. With an initial expansion goal of 900 rooms across
UK: Thai Square Hotels, part of Rossmoregate Group, will use the bank loan for expansions in London. Thai Square Hotels is known for its restaurant chain, Thai Square, which has 15 locations in London and the south-east. Entrepreneur Haim Danous founded Thai Square in 1996. The £5.5m loan from OakNorth
UK: OakNorth Bank has announced the completion of a £50m loan to hospitality operator The Arora Group. The loan is intended to help the company take advantage of new opportunities in the post-COVID landscape. Arora Group’s portfolio includes three separate subgroups across different asset classes, including such properties as Intercontinental
UK: OakNorth Bank has announced the appointment of Rajesh Gupta as their new CFO. Gupta’s previous role was as CFO of Kensington Mortgages, where he had spent five years overseeing finance during a period of company growth. Before Kensington, Gupta spent 21 years at General Electric, primarily working in banking
