Rocket Leisure secures £6.4m from OakNorth

London live music and bar operator Rocket Leisure is preparing for further expansion, after securing a £6.4m loan.

The deal with OakNorth means the business behind Northcote Records can refinance an existing facility, acquire the freehold on its Venn Street site and expand with additional venues in the future.

"Given our 14-year track record and the fact that all our sites are greatly profitable, there were several lenders that were happy to look at this transaction," says Russell Taylor, co-founder and director of Rocket Leisure. "However, we ultimately decided to go with OakNorth as we’ve known and been speaking with the team for years, and feel their entrepreneurial approach and can-do attitude is aligned with ours.

"Now felt like the right time to partner on our future growth. We’re excited to be expanding our unique proposition and look forward to welcoming customers – old and new – to future sites."

Founded in 2010 by brothers Russell and Howard Taylor, and their business partner Tom Jackman, Rocket Leisure currently operates four sites: Venn Street Records and Northcote Records in Clapham, Old Street Records in Shoreditch, and Eastcheap Records in the City of London.

Across all four venues, the business puts on over 1,000 gigs a year, attracting over 6,000 customers each week.

Image: Rocket Leisure

You may also be interested in…