Family firm secures £100m refinance deal to drive forward property investments
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.”