Bradford motorbike retailer gears up for expansion with £364k loan

A Bradford-based motorbike retailer is gearing up for growth as it can now relocate into larger offices after buying a new building with funding from Lloyds Bank Commercial Banking.

With an annual turnover of £10m, We Buy Any Bike Group bought the Northowram premises supported by a loan worth £364k from Lloyds Bank.

But before relocating, the business plans to let vacant units in the building to other businesses providing it with a new stream of revenue.

Two new jobs have been created to help manage the new site, and We Buy Any Bike is also looking to create more jobs in the near future to manage the renovation of the building.

Since the business was formed in 2008, Webuyanybike.com has been renting several units at Royds Business Park in Bradford.

Andy Brooksbank, We Buy Any Bike Group director, said: “The property investment will play a massive part in the growth of our business in the coming years.

“Letting out units in the new building will provide us with a secondary revenue stream which we can use to grow other areas of our business.

“Investing in a large property is always something we have wanted to do. Once we had enough profit from our motorcycle company to buy, we took the proposal to Lloyds Bank and they were happy to get involved.”

Ben Cutts, relationship director at Lloyds Bank Commercial Banking, added: “Webuyanybike has been banking with us since its formation in 2008, and we are pleased to see that the company has grown to a position where it is able to invest in property of its own.

“To help businesses like Webuyanybike invest in assets that will help them continue to grow, Lloyds Bank has committed to increase its net lending to SMEs by at least £1bn every year until the end of 2017.”