The Client
Chesapeake Mill is a beloved antiques shop located in Wickham, Hampshire. Built in 1820, the building was once a working flour mill and has a curious historical importance evident in its name, Chesapeake. This is a result of the building being constructed using the timbers of the American frigate USS Chesapeake, which had previously been captured by the Royal Navy not once but twice – the first time in June 1807 and again during the War of 1812. Eventually, the American warship was sold to a breaker’s in Plymouth, where her timbers were subsequently sold and used to construct parts of the Grade II Listed mill. Flour production eventually ceased in 1976, and the mill is now a retail centre for antique, craft and gift sellers. It also houses a traditional tearoom and heritage space.
The Challenge
Chesapeake Mill has a stellar reputation in the world of antiques, with a waiting list of more than 50 traders, but not enough space to accommodate them. Seeking to grow beyond its current 47 stalls and create more room for tenants on the waiting list, the landmark venue wants to add two further floors of capacity. The current management company (who have run the mill for the last 23 years) also wish to make improvements to the Heritage Room of the building, which tells visitors a little about its interesting story. However, this is a costly undertaking, and extra care will need to be taken to ensure that all adjustments comply with the building’s heritage status
How we helped
White Oak UK was able to introduce the mill’s management company to a financial facility in surplus of £670,000 from Cambridge & Counties Bank. We worked tirelessly to find the most suitable deal that caters to their requirements and ensures careful preservation of the building for years to come. We understand the personal nature of retail finance, and wanted to assist our client in securing a timely business loan that would allow them to consolidate all existing debts and press ahead with the exciting expansion.
Secure a retail business loan with White Oak UK
This example of customer success demonstrates how flexible business finance can help niche retail, leisure and hospitality operators unlock growth from exciting new angles. Historically significant properties, multi-tenant trading models and sector-crossovers are just some examples of the ‘hurdles’ or ‘complications’ that can be seen instead as exciting opportunities. Whether you run a fish & chip shop or you’re a landowner considering commercial development, we’re here to make your vision possible. We can help you invest in physical premises, expand your existing trading space, upgrade essential equipment or enhance your customer facilities, with decisions often delivered on the same day.
Visit our retail sector hub, or take a look at the products we offer.
To explore how a White Oak UK facility could support your next phase of growth, call 0333 014 9000 to speak with a specialist about a solution tailored to your business.
Retail Business Finance – Frequently Asked Questions
How can White Oak UK support a business with expansion plans?
White Oak UK can help in two different ways. We can offer you a financial facility from our own book, whereby we fund the loan for you, and the agreement is between you and us. Alternatively, as we did above, we can introduce you to a lender with a product suitable for you and help structure the deal.
Does White Oak UK only support antiques and heritage businesses?
No. White Oak UK supports a wide range of retail, leisure and hospitality businesses, from independent shops to multi‑tenant venues and commercial developments, helping them invest in premises, expansion, and equipment.
How quickly can White Oak UK arrange finance for retail businesses?
Subject to status and required information, decisions can often be delivered on the same day, enabling businesses to move quickly on opportunities such as refurbishments, expansions, or consolidating existing borrowing.
Is my retail business eligible for funding from White Oak UK?
We have certain criteria that you must satisfy to be eligible for one of our financial products, and these are usually:
- At least 3 years of trading history
- A turnover threshold depending on the type of product you require
- Proof of repayment capacity
However, we always like to assess applications on a case-by-case basis, so feel free to apply online or get in touch with us on 0333 014 9000.
Talk to us
If you are looking to find the right finance for your business, contact us today.
