OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £6m loan to Gatehouse Hub Ltd to fund the development of 19 industrial logistics units spread over 43,487 sq.ft., and a wellness centre comprising of 6,458 sq.ft. on the outskirts of Burgess Hill in West Sussex.
The project is being led by Bedford Park Developments. Incorporated in 2006, Bedford Park Developments “has experience in all aspects of planning, land promotion and development, including large residential land releases, bespoke residential schemes, commercial developments, affordable housing and community asset delivery, retail, retail parks, and leisure.”
Since 2018, the business has secured “consent for and sold c.1,000 residential units over a variety of sites including undertaking a several developments- ranging from smaller schemes with up to 15 units, to larger ones with up to 300.”
As a Chartered Town Planner (MRTPI) with a BSc Hons in Town Planning and over 27 years’ experience in real estate, Ben Ellis has “in-depth market knowledge and a proven track record in the industry.”
He was the founder and director “of one of the most successful independent planning consultancies in the UK, Planning Potential, and was also the director of a major retail development company, Quora Developments, for five years.”
The site – the Gatehouse, located at Gatehouse Lane, Goddards Green, Hassocks, BN6 9LE – is within the Northern Arc extension “to Burgess Hill, which comprises of a range of new commercial, trade, research, and residential schemes.”
It has direct links to “the A273 dual carriageway link road and A23, providing fast access to Gatwick Airport, Brighton, and the South Coast.”
Ben Ellis, Director of Gatehouse Hub and Bedford Park Developments, commented on the transaction:
“We’re excited to be bringing this development to the West Sussex region thanks to the funding and support of OakNorth. Marc and the team were highly communicative, proactive, and thorough, providing regular updates and constructive feedback. We enjoyed the experience of meeting Credit Committee and having the opportunity to discuss our project directly with the decision makers. This is not something we’ve ever experienced with other lenders, so was a truly unique and refreshing part of the funding journey.”
OakNorth was introduced to the transaction “by Martin Betts, Commercial Finance Specialist at Neon Finance.”
