OakNorth Bank and principal mezzanine finance lender The Mezz Lender have teamed up to provide a £15 million loan to The Consolidated Group to refinance the famous 100 Wardour Street in London's Soho district.
Located at 90-100 Wardour Street, near Tottenham Court Road, Oxford Circus, and Leicester Square tube stations , the property comprises the famous lounge, bar and restaurant 100 Wardour Street as well as 11 residential units spread across the upper four floors.
Founded in 1984 by Laurence Kirschel, The Consolidated Group’s portfolio is valued at around £2.0 billion.
Why it matters
At a time where many borrowers are nervous about upcoming refinancings, this deal demonstrates continued investment interest in prime locations and signals confidence in the market. Brookfield recently secured £648 million refinancing for Center Parcs in a deal that would allow it reduce its interest rate margins.
What they said
Laurence Kirschel, director and founder of The Consolidated Group said: “The capability of The Mezz Lender and OakNorth to work together to deliver us a truly bespoke package that provided all our funding requirements under one facility has been invaluable. We look forward to working with both of them in the future.”
Lucas Anglin, associate director at OakNorth Bank added: “We’re delighted to have the opportunity to support one of Soho and Covent Garden’s most distinguished and experienced property developers. The Consolidated Group has built a truly remarkable business and we look forward to continuing to support the business with its future projects throughout 2023 and the years ahead.”
Simon Pollins, CEO of The Mezz Lender, said: “We are always happy to support professional and experienced property developers and investors, such as The Consolidated Group. The Property is in an iconic location in Soho and the sponsor’s pedigree is first class. Being a principal lender, allowed us to make a quick and informed decision to lend, and we were delighted to bring onboard our partners at OakNorth Bank. Thanks as well to Avier Capital for the introduction to this deal.”