Industrial property to be converted into space for start-up enterprises

Kingspark Limited, a syndicate of four Bradford businessmen, has bought Unit 3 on Lee Bridge Industrial Estate in Halifax for £270,000 at auction, using funds provided by Reward Business Finance.

The 13,487 sq ft freehold building was formerly a carpet store, prior to it going into administration, and plans are now in place to separate the unit into seven smaller spaces, making it ideal for start-up businesses.

Kingspark is an acquisitive property business run by businessmen, Fazal ul Rehman, Mohammed Hussain, Sajid Mahmood and Jamil Ahmed.

While previous purchases have been made from its own resources, on this occasion Kingspark needed a quick capital injection to enable it to snap up the industrial unit when it went under the hammer.

The company was introduced to Reward Finance Group by Brian Snape, of Mighty Oak Business Finance.

Fazal ul Rehman, director of Kingspark Ltd, is now working with his fellow directors on the plans for the building.

He said: “We are always looking out for units such as this where we have the potential to breathe new life into them through careful and well thought through renovation.

“This particular one provides the perfect space to create a hub for start-up and smaller businesses to operate within modern facilities.

“Its location within half a mile of Halifax town centre also provides easy access for those working within the building.

“We are grateful to the Reward team for its professional approach and for quickly understanding what we wanted to achieve and the speed with which they provided the funds. They did this without making us jump through hoops, so we did not miss out on the opportunity.”

Karen Paige, associate director of Reward Finance Group, added: “We were really impressed with the Kingspark directors each of them bringing their own specialist skills to the table with Fazal a chartered accountant, Sajid an estate agent, Jamil a solicitor and Mohammed a successful businessman.

“Looking through Kingspark’s property portfolio, we could see that they have made some extremely shrewd investments which are providing an excellent return.

“On this occasion they needed some support from a flexible lender who could move quickly, and we had no hesitation in providing the required funds.”