A Rotherham property firm has developed a new industrial estate in Shirebrook to capture demand for small sheds in the area, with support from Lloyds Bank Commercial Banking.
Langwith Property Ltd is behind the new Johnscar Court scheme on Vernon Street, which has brought five units and more than 15,000 sq ft of Grade A space to the market.
The firm has developed the new site on a six-acre plot near Shirebrook train station, where it currently owns a 30,000 sq ft unit.
Lloyds Bank provided Langwith Property with a £510,000 loan to support its £800,000 investment in the new development. At full occupancy, the scheme will help the business to grow its turnover by two thirds to £250,000 per year.
Jonathan Walker, company director at Langwith Property, said: “Johnscar Court’s quick connections to the M1 and immediate rail access to Worksop, Mansfield and Nottingham make it the ideal location for occupiers looking to relocate or expand their operations in the area.
“We were really impressed by the responsiveness from the team at Lloyds Bank. Its swift action meant that the development could be funded and completed on time, after another lender let us down at the last minute. The amount of funding we needed seemed like an impossible task considering the timescales, but Lloyds Bank proved how agile traditional lenders can be.”
Langwith Property secured the loan just five weeks after originally meeting the team at Lloyds Bank.
Peter Egan, relationship director at Lloyds Bank, said: “This new industrial estate is set to be a significant asset for businesses in the region, with local development remaining relatively low despite a consistent pipeline of demand. Johnscar Court will also create jobs locally, which is always great to see.
“We were more than happy to step in and support Langwith Property, showing why our team will always be by the side of businesses, whether long-standing or new-to-bank. This year, we’ll be supporting firms across the UK with up to £18 billion of lending as part of our plan to help Britain prosper.”
