A GATESHEAD business centre which provides serviced office space for small businesses has secured its future by buying the premises.
Aone Business Centre in Blaydon had been leased by its owners Jim Old, David Phillips and David Metcalf since March last year; they have since invested more than £50,000 bringing the derelict building back to use.
Their initial 12-month lease gave them an option to buy the property at a pre-agreed price and they wanted to go ahead to ensure a long-term future for the centre on Summerhill.
Aone’s owners had planned to fund the purchase through another lender, but funding was withdrawn at the last minute and they stood to lose their investment.
With just three weeks until the option lapsed, they turned to Yorkshire Bank’s small business manager, Jane Gibson, who helped them raise the funding they needed.
Gibson, who is part of the bank’s new small business team, was able to turn around the application quickly and ensure Aone were able to take up their purchase option within the deadline.
Aone operations director David Phillips said: “We were let down very late in the day and thought that we would lose the option to buy the site at Summerhill and the £50,000 we’ve invested in refurbishing it.
“However, Jane and the Yorkshire Bank team could not have been more helpful and efficient. It is thanks to their ability to look at the business on its merits and turn it around quickly that we have secured not just our immediate future but those of the small businesses that use the centre.”
Jane Gibson said: “We are all delighted to have been able to step in and help Aone Business Centre secure the purchase of their premises.
“Yorkshire Bank is very much open for business and we are keen to help support good local businesses like Aone.”