NoMad London hotel refinances with £73m loan

The NoMad hotel in London’s Covent Garden has received a £73m loan from specialist lender Cohort Capital to refinance the property.

The 91-bedroom boutique hotel resides where Bow Street Magistrates Court and Police Station once stood, which were attended by figures including Oscar Wilde and Emmeline Pankhurst.

Between 2018 and 2020, the Grade II-listed building completed a refurbishment programme that resulted in a 170,000sq ft space being dedicated to a hotel, restaurant, museum and bar. NoMad London opened the following year.

The multi-million-pound debt facility from Cohort was used to refinance any bank loan terms that were approaching expiry.

NoMad London Covent Garden will continue to be operated by Sydell Group, which also operates the US-based NoMad in Las Vegas under a management agreement.

Matt Thame, chief executive of Cohort Capital, said: "The hotel room performance at the NoMad is strong, and the F&B concept and plan is a compelling one.”

Cohort Capital’s lending catalogue includes £2.2b in residential and commercial real estate across the UK.