{"id":846416,"date":"2026-03-24T04:58:44","date_gmt":"2026-03-24T04:58:44","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/846416\/"},"modified":"2026-03-24T04:58:44","modified_gmt":"2026-03-24T04:58:44","slug":"jmk-group-secures-48-million-for-london-office-conversion","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/846416\/","title":{"rendered":"JMK Group secures \u00a348 million for London office conversion"},"content":{"rendered":"<p>\t\t\t\t\tReading Time:   2 minutes<\/p>\n<p><strong>UK: <a href=\"https:\/\/www.jmk-group.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Privately-owned hospitality business<\/a> JMK Group has secured a \u00a348 million loan from OakNorth Bank and REL Finance to transform a nine-storey office in the City of London into a 260-key hotel.\u00a0<\/strong><\/p>\n<p>The funding will support the acquisition of a nine\u2011storey office building known as Peninsular House in the City of London, which JMK intends to reposition into a 260\u2011key hotel, subject to planning approval. The capital will also fund ongoing operational initiatives.<\/p>\n<p>The site sits along Lower Thames Street, offering 360\u2011degree views across the River Thames towards London\u2019s Tower Bridge and The Gherkin.<\/p>\n<p>According to the Peninsular House <a href=\"https:\/\/peninsularhouse2026.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">consultation website<\/a>, plans call for a \u201chigh-quality destination hotel with new active food and beverage uses\u201d alongside \u201cnew guest rooms\u201d. The building would be extended to support the proposal. <\/p>\n<p>Zain Kajani, director of <a href=\"https:\/\/boutiquehotelnews.com\/?s=JMK+Group\" rel=\"nofollow noopener\" target=\"_blank\">JMK Group<\/a>, said: \u201cWe have 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; the acquisition of Peninsular House fits into our overall growth objective of growing in Central London and follows on from our acquisition of Clements Lane which is currently being developed.\u00a0<\/p>\n<p>\u201cWe are grateful to the OakNorth and REL Finance teams for their support in this transaction. Following the success of our last acquisition with Oak North and REL, we knew they would once again be the right funding partner for us,\u201d he added.\u00a0<\/p>\n<p>Deepesh Thakrar, managing director of debt finance at <a href=\"https:\/\/boutiquehotelnews.com\/?s=OakNorth\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">OakNorth<\/a>, said: \u201cJMK Group has built a strong track record of acquiring and repositioning well-located assets across London, and this latest transaction is a natural continuation of that strategy. Having supported the business previously, we\u2019re pleased to deepen our relationship and work alongside REL Finance to deliver a flexible, tailored financing solution.\u201d<\/p>\n<p>Sumeer Bose, director at REL Finance, added:\u201cAt REL Finance, we focus on backing experienced sponsors executing high-conviction strategies in prime real estate. This marks our second transaction with JMK and their ability to consistently identify, acquire, and reposition assets in core locations makes them a standout operator in the market.\u201d<\/p>\n<p>JMK has a further six hotels under development which will bring the group\u2019s portfolio to more than 2000 beds in the next two years.\u00a0<\/p>\n<p>Highlights:<\/p>\n<ul class=\"wp-block-list\">\n<li>JMK Group secured a \u00a348 million loan from OakNorth Bank and REL Finance to fund a City of London hotel redevelopment.<\/li>\n<li>The financing supports acquisition and conversion of Peninsular House, a nine-storey office on Lower Thames Street, into a 260-key hotel, subject to planning approval.<\/li>\n<li>Overlooking the River Thames, the redevelopment site offers views towards Tower Bridge and The Gherkin.<\/li>\n<li>Following this transaction, JMK Group continues expanding its London portfolio with six hotels under development, targeting more than 2,000 beds across its hospitality pipeline within two years.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"Reading Time: 2 minutes UK: Privately-owned hospitality business JMK Group has secured a \u00a348 million loan from OakNorth&hellip;\n","protected":false},"author":2,"featured_media":846417,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[7757],"tags":[748,12343,241902,393,4884,205836,257,67981,50171,241900,15399,241899,241901,16,15,241898],"class_list":["post-846416","post","type-post","status-publish","format-standard","has-post-thumbnail","category-london","tag-britain","tag-conversion","tag-deepesh-thakrar","tag-england","tag-great-britain","tag-jmk-group","tag-london","tag-oaknorth","tag-office","tag-peninsular-house","tag-redevelopment","tag-rel-finance","tag-sumeer-bose","tag-uk","tag-united-kingdom","tag-zain-kajani"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116282386425472415","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/846416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=846416"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/846416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/846417"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=846416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=846416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=846416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}