OakNorth Financial institution, the digital financial institution for entrepreneurs, by entrepreneurs and principal mezzanine finance lender, The Mezz Lender, who acted because the Arranger on the transaction, have offered a £15m mortgage to The Consolidated Group, to refinance Soho’s well-known 100 Wardour St tackle.
Situated at 90-100 Wardour Road, the property is located on certainly one of Soho’s busiest streets and is inside shut proximity to Tottenham Court docket Highway, Oxford Circus and Leicester Sq. tube stations. The location consists of the well-known lounge, bar and restaurant 100 Wardour Road, providing company reside music and cocktails on the bottom ground and basement, in addition to 11 residential models are unfold throughout the higher 4 storeys.
Based in 1984 by Laurence Kirschel, The Consolidated Group specialises in redeveloping actual property all through central London’s Soho and Covent Backyard areas. By combining lateral considering and modern concepts to maximise the potential of all websites it acquires, the Group’s portfolio totals c.£2.0b.
Laurence Kirschel, Director and Founding father of The Consolidated Group, commented: “100 Wardour is a legendary tackle inside London’s Soho. Relationship again to the 1960’s, the positioning was as soon as used because the well-known music venue, The Marquee Membership, which hosted music acts akin to, David Bowie, The Rolling Stones, and Jimi Hendrix. Right this moment, the positioning is likely one of the hottest mixed-use schemes in Soho, and we’re delighted to be a part of its wealthy historical past. The aptitude of The Mezz Lender and OakNorth to work collectively to ship us a very bespoke bundle that offered all our funding necessities below one facility has been invaluable. We sit up for working with each of them sooner or later.”
Lucas Anglin, Affiliate Director at OakNorth Financial institution, added: “We’re delighted to have the chance to assist certainly one of Soho and Covent Backyard’s most distinguished and skilled property builders. The Consolidated Group has constructed a very outstanding enterprise and we sit up for persevering with to assist the enterprise with its future initiatives all through 2023 and the years forward.”
Simon Pollins, CEO of The Mezz Lender, stated: “We’re at all times blissful to assist skilled and skilled property builders and buyers, akin to The Consolidated Group. The Property is in an iconic location in Soho and the sponsor’s pedigree is top quality. Being a principal lender, allowed us to make a fast and knowledgeable choice to lend, and we have been delighted to deliver onboard our companions at OakNorth Financial institution. Thanks as properly to Avier Capital for the introduction to this deal.”
