RBS structures a deal to help firm relocate
A marquee and moveable building specialist is enjoying its own move to a permanent new home in Wolverhampton thanks to a £355,000 finance package from the Royal Bank of Scotland.
Relocatable Structures is a specialist in moveable and semi-permanent buildings and is now based on the industrial park on Fernside Road .
A family-run business, Relocatable, has been providing its services since 1993 and is run by husband and wife team, David and Sara Morris.
The company provide a number of flexible solutions and useful structures including marquees, sales and marketing suites, showrooms and sports and leisure structures that are used on a temporary or long-term basis.
The company has forged links with high profile clients such as the BBC and The Merlin Group – the Alton Towers, Legoland and Madame Tussauds theme park group – as well as providing sales and marketing suites for Taylor Wimpey, Nicholas King Homes and David Wilson Homes.
The couple are local to Wolverhampton so it was important they moved to larger premises in their home town – the 8,000 square feet premises is currently being extended to over 10,000 square feet to include state of the art offices and storage space and will become the company's headquarters.
To purchase the premises, David and Sara required financial support from their banking partner, RBS. Adam Woodall has been the company's relationship manager for the past two years and fully understood what the company was looking to achieve. The loan of £280,000 plus a £75,000 VAT line has enabled them to buy larger premises, create additional storage and benefit from financial savings on renting premises.
David Morris said: "Demand for our services has considerably increased over the years and we were in need of additional storage to house our compact structures when not in use. Larger premises was an obvious move but one we could not afford out right."
"When speaking to Adam at RBS, he suggested a suitable funding structure that allowed us to buy the premises to save on our rental monthly outgoings and meet our short-term goals. We are grateful for Adams support and advice and appreciate the difference this will make to our business on a daily basis as we move forward and secure further contracts."
Adam Woodall, RBS relationship manager, added, "Supporting SME's like Relocatable Structures is rewarding as it enables them to move their business forward and grow. Their Midlands location provides them with good links across the UK which has helped them increase their portfolio year on year. I wish them well as they enjoy their new surroundings and the opportunities this will bring."
