OakNorth has provided property finance to a European investor advised by Jamestown for two UK commercial assets, covering an acquisition in Surrey and a refinancing in Edinburgh.
The facility supports the acquisition of Lion & Lamb Yard in Farnham and the refinancing of existing debt on Lochrin Square in Edinburgh, alongside further investment activity within the fund.
Asset details
Lion & Lamb Yard is a mixed-use development in Farnham town centre, comprising 26 retail and food and beverage units alongside 20 residential apartments. The scheme is anchored by Waitrose, with tenants including Waterstones, The White Company, Côte Brasserie, and Jo Malone.
Lochrin Square is a Grade A multi-let office-led asset in Edinburgh’s Exchange District, spanning over 100,000 sq ft of office, retail, and ancillary space. The tenant base includes Spaces/IWG, Trip.com, Hays, and Ørsted.
Financing trends
According to Damien Hughes, senior director of property finance at OakNorth, the transaction involved “two stabilised, income-generating assets in strong UK locations” with high occupancy and diversified tenant profiles.
Hughes noted that OakNorth continues to see demand for flexible financing solutions from institutional sponsors seeking speed of execution. The deal forms part of OakNorth’s portfolio of property finance transactions targeting stabilised, income-producing assets across key UK markets.
The financing activity comes as institutional borrowers seek lenders able to structure deals around specific requirements, while monetary policy considerations continue to influence commercial property investment decisions.
Jamestown operates as a global real estate investment and management platform, with a portfolio of commercial assets across international markets. The European investor’s identity was not disclosed in the transaction.
The deal represents OakNorth’s continued activity in the UK commercial property lending market, focusing on assets with established income streams and occupancy levels.
