Member Article

Family owned North East property firm lands £100m funding package

A Newcastle-based, family owned property investment vehicle has secured a £100m refinancing package with NatWest.

Property asset and investment management firm Union Property Services is owned by the Sehgal family, founders of family fashion and clothing business Visage.

The deal with NatWest will enable the company to accelerate its its growth strategy which involves the acquisition, refurbishment and development of new accommodation across the UK, particularly in the North East.

In addition to creating new homes, student accommodation and business premises, the investment is also set to benefit the local construction industry and its supply chain via the 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.”

David Salisbury, Head of NatWest Real Estate Yorkshire and North East region, said: “We are delighted to support the Sehgal family and Union Property Services with funding which complements their business growth ambitions.

“We have been working with them for a number of years and have developed a strong relationship with the directors and we are delighted to be part of their success for the future.”