Finance boost for expanding company

A COMPANY which is advising on the £35m Broad Street Plaza development in Halifax has agreed a new financial package to fund future growth on the back of its business expansion.

Projex Building Solutions, based in Leeds, received the increased working capital facility from Santander Corporate Banking to help double its turnover to £1.2m this year and open a new office in Henley-in-Arden, Warwickshire.

It comes as the firm of building surveyors and project managers won the contract to project manage and provide cost consultancy advice on a £30m retail and leisure scheme in the Midlands for LXB, the Jersey-based retail investment specialist in 2012.

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The majority of the 244-acre site known as Rushden Lakes Shopping Park, is a Site of Special Scientific Interest and, alongside conventional shoppers, hopes to attract other visitors to the area, providing a potential new market for independent retailers and the local tourist industry.

The company, which employs 12 staff, including eight in Yorkshire, recently relocated its Leeds office to Brewery Wharf in the city centre following its merger with Birmingham-based construction cost consultancy Keane Consult.

Phil Tomalin, managing director of Projex, said the new partnership would enable the company to look at larger and higher-profile schemes.

“The Midlands’ partners are vastly experienced in all aspects of the construction management process and have worked on major UK projects, such as the £32m refurbishment of Waterloo Station and the £12m refurbishment of T1 at Heathrow Airport, as well as projects closer to home, such as the cost consultancy on Bridgewater Place, Leeds’ tallest building, for Landmark Developments.

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“The extended skills set we can now offer, and continued hands-on approach from partners, is already paying dividends in winning exciting new contracts such as The Lakes, and we are currently looking at pipeline schemes across retail, healthcare, office and industrial sectors with a combined value in excess of £60m.”