£1.6m loan from Lloyds Bank allows 100-year-old storage firm to expand
Clevedon-based independent removal business, Yeates Removals and Self Storage is expanding its operations with the development of a second premises at Weston Gateway Business Park with support from Lloyds Bank.
The move was made possible thanks to a £1.6million development loan from Lloyds Bank to develop the 43,500 square-foot site in Weston-super-Mare.
The purpose-built self-storage facility will serve both business and domestic customers with more than 340 units available over four floors for short and long-term rental.
As part of the 100-year-old family-run business’s commitment to reduce carbon emissions, the new premises are being developed in line with the world’s leading sustainability framework, BREEAM, which will see the building equipped with solar energy panels, electric car charging points, electric heating and cooling system and the latest energy-efficient glass and lighting.
The expansion has been made possible thanks to Lloyds Bank’s Clean Growth Finance Initiative, which provides discounted funding to help businesses transition to a lower carbon, more sustainable future.
The development is scheduled for completion in January 2022. Yeates’ existing Clevedon site will remain open and continue to operate as usual.
James Griffin, Managing Director and fourth-generation business owner said: “Adding a second premises to our well-established removals and storage operation is another exciting chapter in our 100-year history. The new site will continue to improve our logistics capability and allow us to extend our portfolio into Weston – supporting business and private users with a first-class storage service.
“We have been planning this expansion for a number of years and despite slight setbacks presented by the pandemic, the support from Lloyds Bank has enabled us to put the plans in action and we’re excited to be on track to open our doors at the start of the new year.”
Rob Thompson, Relationship Manager at Lloyds Bank, said: “Since the pandemic, the self-storage industry has grown in stature thanks to a rise in demand for space to support house moves and help SMEs store archives or stock, allowing them to effectively utilise their office space.
“We’re incredibly proud to have helped James and the team expand their operations with the development of the new premises in Weston and I wish them every success as they prepare to open the doors in the new year.”