England-based self-storage operator The Storage Team has opened a location in Wigan, England, after securing a loan from Lloyds Bank Commercial Banking. The refurbished site in the Eckersley Complex next to Wigan Pier comprises 15,000 square feet and has been named The Budget Storage Team, according to the source.
The property is The Storage Team’s second location. The company opened its first facility in 2007 in St. Helens, England. “When the opportunity arose to develop the premises in Wigan, we immediately recognized the potential to improve the facilities on offer at the site, making it a modern, clean and highly secure storage center,” Kevin Thompson, managing director, told the source. “As a result of the expansion, the business’ turnover is expected to increase by 30 percent by 2015.”
Part of the funding came from refinancing a £400,000 business loan. “Kevin has created a successful and respected business, which offers a high level of service to its clients,” said Trevor Percival, relationship director at Lloyds Bank Commercial Banking. “When he approached us with plans to refinance the current business loan, we were keen to work with him in order to help expand the company and achieve the firm’s long-term goals.”
The Wigan facility will serve residential and commercial tenants.
