One Medical Property wins €35m boost

Challenger bank OakNorth Bank has provided a £30 mln (€35 mln) facility to One Medical Property Holdings, part of OneMedical Property, to grow its portfolio of medical centres across the UK.

OneMedical Property develops, owns and invests in NHS occupied healthcare premises across the UK. By specialising in the design, investment, management and development of medical centres, the company previously built up a property portfolio of 12 sites, totalling 60,000 m2, before selling it to MedicX in June 2018.

Rachel Beverley-Stevenson, property director of OneMedical Property said: 'We’re firm believers that everyone across the UK should have good health and well-being delivered from spaces that help encourage this.

'The funding from OakNorth Bank will play a vital role towards fulfilling, and exceeding this ambition, providing us with the capital we need to build our portfolio of health buildings centres around the communities they serve.

'Each one of our schemes is tailored to the needs of the local population and responds and enhances the environment they are located in, both from a design and an outcome focussed care delivery perspective.

'Deepesh and his team had a detailed and thorough knowledge of the UK’s healthcare sector and were highly attentive and entrepreneurial throughout the entire process, making them our ideal funding partner.'

OneMedical Property has grown to be a major property partner for the NHS, having built and invested in £70 mln of patient-centred, innovative, primary and community care premises since its launch.

The capital from OakNorth Bank will be used to develop three multi-tenanted health and wellbeing centres in Northwest London, Essex, and Wigan, alongside helping to progress OneMedical Property’s strong pipeline of health-anchored developments across the whole of the UK. The funding will also support the company’s growing sale and leaseback portfolio of health buildings in Staffordshire, Lincolnshire, Merseyside and the Southwest of England.

Deepesh Thakrar, senior director of debt finance at OakNorth Bank, said: 'OneMedical Property has a wealth of experience not only in the healthcare sector in which they operate but across business management too.

'The company’s track record in the market of acquiring, developing and investing in high-quality health buildings speaks for itself, with this transaction providing us with an excellent opportunity to support an impressive business.

'As the UK’s population continues to age, the importance of having a greater number of medical centres at the heart of local communities rises significantly, with OneMedical Property being the ideal business to provide such sites. We look forward to working with the team again on future developments and acquisitions moving forward.'


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