Property firm Brandonway completes latest deal after £170,000 funding support

A WEST Bromwich based property firm has purchased a new industrial site after securing a £170,000 funding package.

Established in 1993, Brandonway purchases unused commercial and industrial sites throughout the West Midlands. After it has renovated the units at these sites the firm then lets or sells them to regional manufacturing companies.

To meet growing customer demand for quality facilities, the firm approached Lloyds TSB Commercial Banking for funding support, and used the finance to purchase the 10,000ft² site on Tunnel Road, Hill Top.

The funding has been supplied through the Funding for Lending scheme, under allows banks to offer discounts of 1% to all SMEs in all sectors, for the life of their loans.

Lloyds said the deal reflected the positive findings of its latest ‘Property Matters’ report, which revealed that 43% of property SMEs in the Midlands expect to see an uplift in activity in the next three to six months.

Brandonway employs local subcontractors when renovating sites and has an annual turnover of £200,000. The business plans to purchase additional commercial and industrial units over the coming months.

Christopher Ashmore, director at Brandonway, said: “Brandonway is committed to providing its clients with quality units, and with manufacturing a strong industry focus in the West Midlands, demand for facilities is high.

“We purchase sites across the region that are abandoned and often derelict and the team works hard to transform the units into desirable spaces for our clients.

“With the support of the Lloyds TSB Commercial Banking team we have been able to expand our property portfolio and we are looking forward to working with them as we grow our business further.”

Mark Mascarello, property relationship manager at Lloyds TSB Commercial Banking, said: “Brandonway has built a reputation over the past 20 years of providing reliable industrial units in desirable locations that have been refurbished to a high quality.

“The business is experiencing increased demand for its units, an attitude reflected in our latest ‘Property Matters’ report, which showed that confidence in the Midlands property industry is at its highest level since 2011.”