A rapidly-growing property consultancy is set for further expansion in 2016 following a funding boost from Finance Yorkshire.
Barnsdales Limited, which is based in Doncaster and Sheffield, but also has offices in Manchester, London and Lincoln, has secured a Business Loan to support its growth plans.
The business was established in 1905 and still remains a family enterprise and specialises in chartered surveying, property consultancy and estate agency. The majority of its services are provided to other businesses such as banks, insurance companies, property development companies and pension funds.
It also comprises property and facility management consultancy Barnsdales FM, and an auction business, Regional Property Auctioneers, which itself has doubled in size year-on-year for the last three years.
The backing from Finance Yorkshire, alongside ongoing support from Barclays, will assist the business as it looks to continue its upward trajectory into 2016.
Director and owner Jason Barnsdale said: “Our growth this year is around 20% up on 2014 and we are aiming for more of the same next year. The auction side of the business is on track to double its growth yet again next year, and the residential property management side is also growing quickly.
“We have recruited a number of new people and will be doing the same again in 2016. We have an incredibly strong team and we continue to both broaden our geographical reach and secure repeat business from clients.
“This funding from Finance Yorkshire, alongside backing from other parties, will play a vital role in fuelling our ongoing growth.”
Neil Bradburne of Barclays Bank said: “Barnsdales is a long established business with a strong track record and a commitment to ongoing development and expansion. This, together with a highly experienced management team, makes it an ideal investment prospect and we are pleased to offer our continued support.”
Finance Yorkshire investment manager Karl Hodson said: “Barnsdales weathered the downturn in the property market and has emerged stronger than ever. We are impressed by its geographical spread, in addition to its excellent team, and its long-standing reputation in the industry.
“We are excited to see the business continue to grow into 2016 and beyond.”
Finance Yorkshire’s investments to date have created and safeguarded 10,196 jobs across Yorkshire and the Humber, increased turnover by £309 million and generated private sector leverage of £179 million.
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.