OakNorth

OakNorth completes £20.1m loan to support mixed-use scheme



OakNorth has completed a £20.1m loan to fund the development of a mixed-use scheme in Whetstone, north-west London.

The specialist bank provided the development loan to Gold Compass Developments, a subsidiary of Yellow Brick Group.

The site – which is based at 1060-1072 High Road – will have 56 residential units – all of which will have either a terrace or a balcony – several thousand sq ft of commercial space, a gym, concierge service and underground parking.

Some 21 of these units will be two-bedroom flats, with 10 of the units being four-bedroom houses with gardens that back on to North Middlesex Golf Club.

Damien Hughes, senior property finance director at OakNorth, said that Whetstone Square was a great project delivered in a very strong residential location.

“Gold Compass [has] successfully completed several projects across Greater London, being involved throughout every stage of the process from architecture to maintenance.

“We look forward to working with them on this and future transactions.”


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