Funding deal sparks relocation for electrical firm

A Nottinghamshire electrical wholesaler has bought new premises after signing a funding deal from Barclays.

TLA Distribution has purchased the 30,000 sq ft site on Moorbridge Road in Bingham which will become the company’s new headquarters. The business operated from three smaller units at Manvers Business Park in Cotgrave but moved into the new premises following some refurbishment works.

The business, which was established in 1998, specialises in the sale and distribution of automation, motor control, switchgear, cables and enclosures to the industry and employs over fifty staff.

Owner Dean Curtis said: “We have been looking for some new premises for some time to accommodate our ever-increasing stock commitment which is driven by increased customer demand.

“When these premises came up on the market, we were keen to move quickly to secure them and sought Barclays help. The new site will not only provide us with more space but a better environment for our increasing staff numbers and customer training program.”

Lynn Morris, relationship director at Barclays in Nottingham said: “TLA Distribution identified the need to move to new premises but waited until the right property came on to the market. This new site will provide the business with a great platform on which to further develop and I am delighted that we were able to assist the business with the funding in the form of a commercial mortgage.”