Construction firm builds for growth after new funding deal
A BIRMINGHAM-based construction firm is to continue its expansion after it moved into brand new premises following a funding deal.
Following the investment from Lloyds Bank Commercial Banking, M Lambe Construction has purchased new office space in the city’s Jewellery Quarter which, at 6,000 sq ft, is almost four times the size of its previous headquarters in Hockley.
The move onto The Mint development was necessitated by two years of growth, which has seen the business double its number of administrative staff from 17 to 34. As a result of this expansion, M Lambe Construction outgrew the offices it occupied since 1994, which will be retained as the operating base for its transport fleet.
The new office space has also afforded the firm an opportunity to invest in a significant upgrade of its IT systems, enabling the company to broaden the services offered to its clients.
With an anticipated annual turnover of £40m this year, the firm has recently secured a contract with Balfour Beatty for the groundworks and civil engineering package at the National Automobile Innovation Centre at the University of Warwick.
Michael Lambe, General Manager of M Lambe Construction, said: “Over the past year, we have recruited a team of dedicated professionals, bringing with them vast experience in the commercial sector which we hope will provide new areas of growth for the business.
“Recent expansion led to a requirement for larger premises, so we’re pleased to have secured this recent funding package from Lloyds Bank which has enabled our move to our new office. Our investment in infrastructure allows us to move on to the next stage of our growth plans, and we’re looking forward to getting started on our new Balfour Beattie contract.”
Andy Woolman, Relationship Director at Lloyds Bank Commercial Banking, said: “M Lambe Construction has placed great importance on the creation of local jobs for skilled workers in recent months, and we’re pleased to provide this funding package which has enabled the business to enquire its new office.
“This move will allow the company to continue its recent expansion whilst driving long term success, and we look forward to continuing to work with its management in the months and years to come.”
The premises was marketed by Jewellery Quarter estate agent, Siddall Jones, which has completed a number of sales on the development.
