Mumbles Group – Funding new EV charging points across the UK

 

The Challenge

Mumbles Group is a privately-owned commercial developer with a track record of successful development projects, concentrating on the development of roadside sites for new forecourts. With the convenience  market expected to total £47.1B by 2024, increasing by 2.9% from 2021, the group required a trusted lender to support their latest ambitious growth project.

 

Opportunity & Outcomes

We were able to provide Mumbles Group with a £20M loan to acquire and develop more than 20 new forecourts across the UK, including several new EV charging points. Commenting on the transaction, Dominic David, Managing Director of Mumbles Group, said: “With this capital from OakNorth Bank, we will be able to significantly increase our growth pipeline, which in turn will create many new jobs in local communities. The team at OakNorth Bank have developed a flexible facility, which enables us to draw down the capital as and when we need it, rather than having to re-apply for capital every time we want to develop a new site – which is what most other lenders would make us do.”

 

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