Forsters advises Mumbles Group on £20M funding deal with OakNorth
Forsters’ Banking and Finance team acted for Mumbles Group in a £20M loan arrangement with OakNorth bank. Head of Banking and Finance, Victoria Edwards, and Senior Associate, Roisin Forde, assisted the commercial developer in gaining funding for its ambitious growth plans to acquire and develop more than 20 forecourts across the UK.
Mumbles Group is a privately-owned commercial developer specialising in the development of roadside sites for new forecourts. It has completed eight successful forecourt projects since 2014 with occupiers including Co-operative Group (Co-op), M&S and Sainsbury’s.
Mumbles are currently building a new forecourt and convenience store for Co-op at Moor road, Chorley, and have exchanged contracts for an existing site in Crystal Palace which will provide EV charging.
Victoria Edwards commented: “It was fantastic to act for Mumbles Group on this acquisition and development facility to enable them to grow so significantly over the next few years. Being a part of businesses in their growth phase gives us a real buzz and is what it is all about being a lawyer.”
