Family-run hospitality company JMK Group has announced plans to transform a former London office building into a hotel, having secured a £16.6 million loan.
The co-loan from OakNorth and REL Finance will be used to convert a five-storey, Grade II-listed office building on St Clement Lane in the City of London into a 185-room hotel, pending planning permission.
JMK Group was founded in 2009 by John Kajani with the opening of a small boutique hotel in London’s Kensington.
Since then, the company has expanded its portfolio to seven properties across the UK and Ireland, including the Hampton by Hilton London Ealing and the Seraphine Hammersmith Hotel.
Zain Kajani, director of JMK Group, said: “At JMK Group, we pride ourselves on being a strong privately-owned company that puts people at the heart of everything we do. We’ve experienced rapid business growth since our establishment in 2009 and now have an extensive portfolio which is constantly evolving.
“We are constantly looking towards the future, with this acquisition of the St Clement Lane site a prime example of this, so we’re grateful to the OakNorth and REL Finance teams for their support in this transaction. Following the success of our initial transaction with OakNorth in August 2022, we knew they would once again be the right funding partner for us.”
