£3m plus expansion for growing firm
A Peterborough company has just completed a £3 million plus expansion. Barnack Estates UK, of Southgate Way, Orton Southgate, has bought additional premises in Werrington with a £3.29 million funding deal agreed with the Yorkshire Bank.
The new accommodation is a 49,000sq ft warehouse providing 5,000 new pallet spaces for storage.
Owner and chairman Rob Facer said: “We’ve had to con- tinually build more storage space for our products as the business has grown.
“The support we have received from Yorkshire Bank to fund the premises has been very flexible.
“Our business is quite diverse and having a personal relationship manager who takes the time to really understand what you do is important.”
Bar na ck Estates is made up of three separate businesses - Barnack Confectionery, Barnack Storage & Logistics and Barnack Estates UK ( Construction).
It diversified fromits original confectionery offering as the company grew to a point it needed additional warehousing facilities. After building thefirst 50,000sq/ ft space, Mr F acer realised there was an opportunity for diversification into the construction and logistics sides of the business.
Simon Moore, head of the bank’s Customer Banking Centre in Peterborough, which provided 100 per cent of the purchase cost for the warehouse, said: “Barnack Estates UK has experienced continued growth over the last 30 years and has demonstrated a genuine entrepreneurial track record, identifying lucrative opportunities and capitalising on them.”
DEAL: from left, Simon Moore, head of Yorkshire Bank’s Customer Banking Centre in Peterborough, Rob Facer, owner and chairman of Barnack Estates UK, and Steve Woods, relationship manager at Yorkshire Bank’s Customer Banking Centre.