OakNorth completes £52m loan to "quintessentially English country house estate"

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £52m loan to Beaverbrook, the award-wining and quintessentially English country house estate nestled in the heart of the Surrey Hills. The capital from OakNorth will help refinance existing facilities, and fund future growth.

Beaverbrook is spread over 475 acres, and boasts 57 rooms, four restaurants, two bars, tennis courts, a private cinema and The Coach House Spa with a full range of facilities including indoor and outdoor pools.

Just 22 miles from central London, nearby attractions include the National Trust’s Box Hill, Polesden Lacey and Leith Hill, Bocketts Farm, Denbie’s vineyard and RHS Wisley Garden. It also has an on-site kids’ club, run by Sharky & George, which hosts a range of activities such as bug hunting and den building, meaning parents can relax while their kids enjoy one of the many activities on offer.

Joel Cadbury, co-founder of Beaverbook Holdings Limited, commented: “We are grateful to the team at OakNorth who have built an in-depth understanding of Beaverbrook and are delighted to have refinanced our debt on terms that reflect the maturity of our business and the completion of development works.

“As a founder-led business, they truly understand what founders like me are looking for in banking partners. We have worked with OakNorth before, to fund previous ventures, so know that we are getting a team that is commercial, collaborative, and consistent.”

Deepesh Thakrar, Senior Director of Debt Finance at OakNorth, continued: “Given the current cost-of-living crisis, many banks would simply veto doing anything in the hospitality or luxury space, but OakNorth has once again proven that it’s able to identify the gems in every sector.

“Beaverbrook is a phenomenal business backed by incredibly successful, experienced, and proven founders. They proved their resilience and commitment through COVID, managing to build a highly profitable business in a highly competitive space.”

By Mark Adair – Correspondent, Bdaily

• Add me on LinkedIn and Twitter to keep up to date
• And follow Bdaily on Facebook, Twitter and LinkedIn
• Submit press releases to editor@bdaily.co.uk for consideration.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →