A Yorkshire business which specialises in the design and construction of buildings for the farming industry is expanding with support from Yorkshire Bank.
Colley Farm Buildings Ltd, currently based at Holme on the Wolds in Beverley, have received a six-figure sum to assist with the purchase of new premises at Hutton Cranswick industrial estate.
A family business founded over 20 years ago, Colley Farm Buildings employs 17 staff and delivers a wide range of buildings such as grain stores, cattle yards, insulated potato stores and specialised pig buildings to the agricultural industry.
The firm’s turnover in 2013 was approximately £3.5 million and the management team is targeting further growth in the coming year.
The deal was facilitated by Jonathan Lucas, relationship manager – agribusiness at the Bank’s North Yorkshire Business and Private Banking Centre in York.
“We have been aware for some time that the company had outgrown our current premises and that we need to relocate if we were to continue to grow.
“By moving from our existing 5000 square foot facility to the new 22,000 square foot premises at Hutton Cranswick we will be able to implement our wider expansion plans for the business which include increasing our staff by up to 10 people over the next few years.
“At this stage our expectation is that it will be around six months before we make the move as our intention is to demolish the existing offices on site and build new facilities.
“Our longstanding relationship with Yorkshire Bank and their understanding of and interest in our business has been invaluable in helping us realise our ambitions for the business.
Rick Warburton, Yorkshire Bank’s head of business and private banking for North Yorkshire, said:
“The success of Colley Farm Buildings is testament to the experience and expertise of Paul Colley and his management team and represents all that is good about the entrepreneurial spirit of the region’s businesses.
“As we begin to see signs of economic recovery, Yorkshire Bank remains focused on investing in the growth ambitions of the local business community.”
The funding news comes as Colley Farm Buildings nears completion on a new facility in Driffield for one of its leading customers, agricultural supplier James Mortimer Ltd.
Simon Minns, director at James Mortimer Ltd, said:
“Paul Colley has worked closely with us throughout our search for a suitable site and at all stages of planning the re-location of our business, his advice has been extremely valuable to us.
“The re-location will greatly enhance our ability to process certified cereal seed for both the retail and wholesale markets.”