Partner Article

Gateshead upholstery firm buys own premises with Barclays backing

Gateshead business D&P Upholstery Ltd has purchased its own premises with funding from Barclays.

Established in 2004 and purchased by the current owner Jeff McGurty in 2009, the firm specialises in the manufacture and restoration of all kinds of furniture, together with upholstery and the refurbishment of public houses and clubs.

The business has also recently upholstered two thrones which can be hired for special occasions including weddings and parties.

Jeff McGurty, Managing Director, D&P Upholstery Ltd said: “We’ve been renting premises at Sheriffs Highway ever since the business was established and decided the time was right to invest for the future and purchase the freehold.

“With interest rates as low as they are it makes sense to secure the future of the business and it’s great that Barclays were able to help fund the purchase which will help take us to the next phase of our growth plans.”

D&P Upholstery Ltd employs three staff locally and turnover for the year is expected to exceed £200k.

Linda Coulthard, Business Manager at Barclays put together the funding package for the deal and said: “It’s great to be able to support a local business that is thriving and expanding for the future.

“The commercial mortgage will actually reduce their outgoings and help secure the business for generations to come. Jeff operates a very sound business and the future looks bright for this ambitious company.”

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