Work has commenced on our brand new hotel on Newcastle Quayside as part of a multi-million development.
Operated by Spanish hotel group Meliá Hotels International, the four-star, seven-storey Innside Hotel is located next to our earlier Travelodge Hotel development, replacing the east wing of the former BT building, Bridge Court.
Construction of the new hotel, only the second Innside in the UK, is expected to be completed by summer 2020. The hotel will include a lounge, bar and restaurant, plus conference facilities, a fitness lounge and 25 car park spaces.
Raj Sehgal, Director said: “This development breathes new life into a substantial vacant building on the historic quayside. We now look forward to bringing the Innside hotel forward to complete this market leading scheme. Union Property are focused on delivering best in class developments and we are proud to bring this transformational project to our home city”.
Find out more about Newcastle Quayside Travelodge here:
https://www.travelodge.co.uk/hotels/633/Newcastle-Quayside-hotel
Union Property Services was formed last year by Mukesh and Promila Sehgal, who founded the fashion and clothing business Visage in the 1980s, and their son Raj Sehgal.
The Newcastle-headquartered property asset and investment management firm has now secured a £100m refinancing package with NatWest, a deal which will help the firm’ plan to grow through the acquisition, refurbishment and development of new accommodation across the UK, in particular the North East.
In addition to creating new homes, student accommodation and business premises, the firm said the investment will also benefit the local construction industry and its supply chain, through new developments.
Raj Sehgal, director of Union Property Services, said: “The refinancing facilities will allow us to deliver on our clients’ growth strategy which includes developments throughout the North East region.
“We are committed to investing in these communities and rely on our continuing relationship with NatWest to make this a reality.”