JMK Group reveals £16.6 million London hotel plan

A family-run hospitality firm has unveiled a £16.6 million capital expansion.

JMK Group plans to create a 185-room City of London hotel.

Bosses say the venture will convert a five-storey Grade II-listed office block in St Clement Lane into a site that “caters to modern business and recreational needs”.

The project – which has yet to receive planning permission – is being supported by a co-loan from digital bank OakNorth and lender REL Finance.

Zain Kajani, director of JMK Group, whose portfolio complements London and Ireland-based hotels with coffee shops and residential and commercial properties, said: “We pride ourselves on being a strong privately-owned company that puts people at the heart of everything we do.

“We are constantly looking towards the future, with the acquisition of the St Clement Lane site a prime example.” 

Deepesh Thakrar, OakNorth senior director of debt finance, said: “This represented an exciting opportunity to facilitate a new deal with an existing customer, and we look forward to continuing to support the group with its future growth.”

Sumeer Bose, REL Finance director, added: “JMK is a prominent group with exceptional in-house capabilities to transform properties, and we are pleased to strengthen our existing relationship with OakNorth.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.