OakNorth Bank Limited’s £21 million loan for the development of new hotel L’Oscar in London

OakNorth Bank Limited – the bank for entrepreneurs, by entrepreneurs – has arranged a £21 million loan for the development of a new hotel, L’Oscar, in central London.

The hotel will be situated at 2-6 Southampton Row in Holborn in a Grade II-listed former Baptist church. It is expected to open its doors early next year.

Designed by architect Jacques Garcia and managed by Michael Voigt, will have 40 bedrooms, as well as a bar, restaurant, cafe and conference facilities.

Reed Smith has advised OakNorth Bank Limited on the deal with a team led by finance partner Leon Stephenson (picture) and associates Maccailein Campbell, Nicole Abbot and Rebecca Thorpe, advised on the financing of the development of the luxury hotel, supported by Richard Ceeney and Chris Parrott on construction and Jess Hartley on real estate.

Involved fees earner: Leon Stephenson – Reed Smith; Maccailein Campbell – Reed Smith; Nicole Abbott – Reed Smith; Rebecca Thorp – Reed Smith; Richard Ceeney – Reed Smith; Chris Parrott – Reed Smith; Jess Hartley – Reed Smith;

Law Firms: Reed Smith;

Clients: OakNorth Bank Limited;

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