Hounslow firm refinances with Allica Bank to refurbish office building
Hounslow business has a secured a multi-million pound loan from business bank Allica to fund the refurbishment of Hounslow’s tallest building – the 10-storey Vista Business Centre.
The work will add a further 150 serviced offices to its upper floors, making space for the growing number of businesses looking for office space following the covid pandemic, in particular as a greater number of businesses embrace more flexible working practices.
Jointly-owned and operated by Hounslow residents Gurmeet Sethi and Waryam Kakol since 2015, the Vista Business Centre is in a prime location, with spectacular views from its top floors and close proximity to Heathrow Airport.
Gurmeet and Waryam refinanced their existing mortgage on the property with Allica Bank for just under £10m, with £2.6m being released to invest into the building’s refurbishment and further expanding the family-run business.
Allica, which specialises in serving established businesses with a combination of relationships and powerful technology, has lent over £3bn to UK SMEs since it launched in March 2020, and was named Britain’s fastest-growing private company in 2024’s The Sunday Times 100 and the fastest-growing start-up in Europe by Sifted.
Talking about the investment, Waryam Kakol said, “We’re delighted to be able to renovate the top floors of the Vista Business Centre to serve the growing number of firms that see Hounslow as a prime place to do business. We have strong connections to this community and we’re pleased to be able to continue to invest in it, especially with such an iconic building in Hounslow.
“We’re grateful to Allica Bank for supporting us as we grow our business. Their human and no-nonsense approach was such a breath of fresh air, we’ve also decided to open a bank account with them.”
Allica Bank’s Michael Mann said, “Gurmeet and Waryam are well-respected business owners in Hounslow with a strong track record for careful and considerate property management. We’re really pleased to be able to support this family business as it continues to grow and invest in its community.”
Zain Abbas and Jimeet Kakol of A2Z Bridging, who helped Gurment and Waryam find the best lender for the refinance, commented, “as a proud Hounslow business ourselves, it’s fantastic to be part of this deal. Our goal is always to find the lender that best fits our client’s needs, and Allica Bank have really delivered.”