Bank funding of £1.54m helps property tech firm build strong foundations for future
Property tech firm, Street Group, has purchased new commercial premises in Manchester on the back of a strong trading period, backed by £1.54m of financial support from Barclays.
Street Group is aiming to transform its home-moving process by providing cutting edge software to UK estate agents.
Its flagship product, Spectre, tracks all properties in the country that are on the market and provides data-driven insights to agents.
The latest product, Street.co.uk, is a complete estate agency platform allowing agents to better support their clients throughout their move, making the process smoother, less stressful and more transparent.
With the support of a £1.54m term loan from Barclays, Street Group has acquired a four-storey commercial premises on Oldham Street with retail on the ground floor and offices on the upper three floors.
Despite a very challenging couple of years for the estate agent sector, due to issues such as Brexit, regulation changes and then the pandemic, Street Group has continued to grow its client base and increase revenue.
Co-founder, Tom Staff, said: “We are delighted to be working with the Barclays team and have been very impressed with their desire to understand our business and build a strong partnership approach.
“It’s great to have this asset on our balance sheet and the support from Barclays has allowed us some freedom to invest further in the product, so the next few years will be very exciting for our business.”
Mike Holligan, North West relationship director for High Growth and Entrepreneurs, said: “Street Group is a well-managed and ambitious company that is investing for the future and contributing to the local economy.
“With a strong reputation and an exciting pipeline of opportunities for the future, we’re delighted to support the business as they continue to grow, despite these challenging times.”