OakNorth provides £6 million loan to Gatehouse Hub

The site is within the Northern Arc extension “to Burgess Hill, which comprises of a range of new commercial, trade, research, and residential schemes”

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £6 million loan to Gatehouse Hub Ltd to fund the development of 19 industrial logistics units and a wellness centre 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 various 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 around 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.

The site – the Gatehouse, located at Hassocks – 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 are 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 have ever experienced with other lenders, so was a truly unique and refreshing part of the funding journey.