Family-owned accommodation firm JMK Group has announced plans to convert a former London office building into a hotel after securing a £16.6m loan.
The joint 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.
John Kajani founded JMK Group in 2009 by opening a small boutique hotel in London’s Kensington.
The company has since expanded its portfolio to seven properties in 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 private company that puts people at the heart of everything we do. We have experienced rapid business growth since our inception in 2009 and now have a wide range that is constantly evolving.
“We are always looking to the future and this acquisition of the St Clement Lane site is an excellent example of this, so we are grateful to the OakNorth and REL Finance teams for their support in this transaction. After the success of our first deal with OakNorth in August 2022, we knew they would again the right financial partner for us.
