Paddy McKillen’s Clarendon refinances London retail properties with private lender

Paddy McKillen and Tony Leonard’s Clarendon Properties has refinanced debt on a number of prominent retail properties in west London through a new £14.6 million (€17.43 million) facility from private credit lender Hilco Real Estate Finance.

The property group owns 20,000sq ft (1,858 sq m) of retail property across seven properties on Kensington High Street in London through two Irish subsidiaries called Ringston Investments Limited and Jackson Investments Limited.

The latest accounts for the companies, which reported bank borrowings of £16.6 million at the end of June 2025, showed they owned a combined £22.9 million of property on the popular retail street.

New filings by each company with the Companies Registration Office show they have refinanced existing Bank of Ireland borrowings with Hilco Real Estate Finance under a new £14.595 million facility.

The documents said the financing deal was linked to its west London properties 146 and 148 Kensington High Street and 150–158 on the same street, some of which are occupied by sports store Decathlon and homeware shop Robert Dyas.

Ringston Investments Limited and Jackson Investments Limited have both granted Hilco security over the properties under an agreement in recent days.

Further documents showed additional security has been provided by Clarendon Properties Limited, Clarendon Properties (Holdings) Unlimited Company, Puzzle Investments and Signature Concepts, which each pledged debt owed to them as part of the financing agreement.

No interest rate or maturity date for the debt with Hilco Real Estate Finance was provided in the filings.

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Clarendon Properties, founded by McKillen and Leonard in 1996, also owns a number of prominent properties in Dublin, including Powerscourt Town Centre on South William Street and several Victorian-era buildings on College Green in the city centre.

Its portfolio is held across a network of more than a dozen companies. Earlier this year, financial filings for 11 of its subsidiaries showed its Irish-based properties were valued at a combined €147.3 million at the end of June 2025, a 3 per cent increase year on year.