£50m family investment office to expand Yorkshire property portfolio via seven-figure facility
Provider of SME financial services Aldermore has provided Real Estate Investments Group 1 Limited with a seven figure facility, to enable it to further grow its commercial property portfolio in Yorkshire.
This is the fourth time that Aldermore has supported the company with the purchase of a commercial investment property in the last 12 months.
The new loan will be used for the acquisition of two prime retail units on Division Street, Sheffield, which are let as a Sainsbury’s Local and an independent coffee chain called 200 Degrees Coffee.
The privately-owned family investment office was established in June 2020 by Harpreet Banwait based in Wakefield, West Yorkshire.
Graham Ritchie, head of commercial mortgages north at Aldermore, said: “It’s been a pleasure to work with Mr Banwait again, as he further expands his already established commercial property portfolio across Yorkshire.
“Mr Banwait has extensive real estate investment experience and our expertise and knowledge in the region meant we were able to work closely with him to provide the funding solution he needed to expand his commercial property portfolio.
“This is another great example of a client continuing to return to Aldermore for investment support and demonstrates the value placed on developing strong relationships.”
Harpreet Banwait, managing director of Banwait Group Holdings Limited, added: “Aldermore’s funding has continued to support our growth plans in an ongoing challenging economic environment.
“We look forward to growing this partnership as we work towards exceeding our first major milestone of £100m in Assets Under Ownership within the next two years.
“Real Estate Investments Group 1 Limited is committed to donating a percentage of its profit to support local, regional, national and international causes and charities through its Making an Impact Fund.”
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