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Jane Imrie

Yorkshire firm expands commercial property portfolio with £3.4m funding

A Yorkshire-based investment firm has secured six commercial properties across the North thanks to multi-million pound funding.

Banwait Group Holdings secured a £3.4m commercial mortgage facility from Aldermore Bank to acquire the investment properties in Leeds, Lincoln, Manchester, Doncaster and Wakefield.

The buildings in Lincoln and Manchester are currently let to Tesco and serve a large local population. The two detached industrial properties in Sheffield are leased to a technological solutions provider and an online printing company.

The industrial trade counter in Leeds is let to a children’s furniture and accessories store and the brand-new drive thru unit in Doncaster is let to Costa Coffee on a 15 year full repairing and insuring (FRI) lease.

Harpreet Banwait, managing director of Banwait Group Holdings, commented: “Real Estate Investments Group 1 Limited was recently set up to develop a very significant diversified portfolio of high quality, income generating assets in Covid-19 resilient sectors.

“We’ve had a very successful start to the 2021/22 financial year, and we look forward to working with Aldermore in the very near future to help us reach our target of exceeding £100 million in assets under management within 3 years.

“Real Estate Investments Group 1 Limited has committed to donating a percentage of its profit to support local, regional, national and international charities through its Making an Impact Pledge.”

Graham Sunley, lending manager at Aldermore, added: “Harpreet Banwait was keen to acquire a strong commercial property portfolio.

“With his extensive experience in the real estate space and our expertise and knowledge in the region, we were able to work closely with him to provide the funding solution he needed to expand the commercial property portfolio.”

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