UK-based lease broker Bluestone Leasing has arranged finance for a £200,000 office move and fit-out project for IT and engineering recruitment agency Austin Fraser.
Wakefield-based Bluestone structured a finance solution involving eight different banks to create office space for Austin Fraser, which has expanded from two to 40 employees since its foundation in 2007.
Steve Russell, sales director at Bluestone, said: “Office moves and fit outs are often expensive and can exert a significant pressure on a company’s cash flow and resources especially with heavy deposits and extended project schedules.”
He added that leasing is an attractive financing choice for interior projects due to tax savings and the spreading of costs, but that the option still is “completely new” to many companies.
Derek Simpson, contracts director from Austin Fraser, said: “As we were rapidly outgrowing our old premises we really needed to move quickly.
Working with Bluestone Leasing allowed us to do that without the move impacting greatly on our cash flow.”
Metrix Commercial Interiors, one of Bluestone Leasing’s vendors, carried out the design and refurbishment works and linked the broker and Austin Fraser together.