Wednesday, October 21, 2020

Oakham machinery and vehicle dealer secures funding deal for expansion programme

Oakham-based machinery and vehicle dealer, C&M Retail Group, is embarking on a major expansion programme which will create up to 20 new jobs after agreeing a funding deal to enable the development of a purpose-built industrial and business hub, as well as the launch of a new vehicle sales company.

The deal arranged by One Stop Business Finance provides the green light for C&M’s building phase at Hawksmead Business Park in Barleythorpe which is expected to be completed in around six months.

The company acquired the site opposite the Rutland Showground earlier this year having outgrown its current town centre site, and it is now able to bring its plans to fruition alongside joint-developer Moores Estate Agents.

Best known as C&M Tractors, the company has been based on Station Approach in the heart of the town for 49 years. This part of the business will now be able to expand to meet customer demand for its range of horticultural and agricultural machinery, with additional space and facilities planned to add capacity.

In addition, the Barleythorpe development will be the base for its new business, C&M VSS. This will be a vehicle sales and servicing business specialising in cars and trucks between six months and five years old, which are not readily available locally at the moment.

Tim Allen and Saxon Marlow, Directors at C&M Tractors, said: “Creating a purpose-built hub that is designed to suit our requirements and allows us to grow has been a long-held ambition, so it is fantastic that we can now embark on a very exciting new era for our business.

“It’s no secret that we have been struggling for space on our current site, but we wanted to stay in the town to support the local economy and provide more jobs. That’s why we were delighted when the new site became available, and we are now looking forward to starting on-site after securing a finance deal that provides a flexible facility to drawdown as required for the build.”

Rebecca Ennis, Business Development Manager at One Stop Business Finance, added: “C&M Retail Group’s new development is excellent news for Oakham, and we wish Tim, Saxon and their team every success.

“As building developments like this almost always require a more flexible approach to funding in line with the key stages of the project, the larger banks are often unable to help.

“It was, in fact, one of the major banks who introduced us to C&M, who have now been able to benefit from our understanding and experience of development finance and our ability to complete deals that many banks can’t do.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Leicester photographic print supplier secures COVID support

Leicestershire photographic print supply firm, Tetenal UK, has secured a finance facility from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS) to...

Expert NEDs join F Word Academy

The F Word Academy, an online business finance academy, has added two East Midlands business development experts to its executive team. Stuart Ross from High Growth...

Software company acquires online school management system

IRIS Software Group, the privately held software company, has acquired iSAMS, a fully integrated online school management system. Set to grow the scope of the...

Software firm reports 47% revenue growth and secures investment for future expansion

The Access Group, a provider of business management software to mid-market organisations which is due to open a new office at Loughborough University Science...

Watch the 2020 East Midlands Bricks Awards as it unfolds next week

On Thursday 29th October, the 2020 East Midlands Bricks Awards will take place virtually. Business Link’s annual event, the East Midlands Bricks Awards recognises development projects and people in commercial and public...

Related news

Agent appointed to Chesterfield Waterside offices

Knight Frank has been appointed to find tenants for office space in Chesterfield’s newest £340m regeneration project. Construction of No.1 Waterside Place at Basin Square...

Leicester photographic print supplier secures COVID support

Leicestershire photographic print supply firm, Tetenal UK, has secured a finance facility from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS) to...

Expert NEDs join F Word Academy

The F Word Academy, an online business finance academy, has added two East Midlands business development experts to its executive team. Stuart Ross from High Growth...

Software company acquires online school management system

IRIS Software Group, the privately held software company, has acquired iSAMS, a fully integrated online school management system. Set to grow the scope of the...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close