A Sheffield-based fit-out, refurbishment and maintenance business is set for expansion with the help of a £200,000 loan from NPIF – Mercia Debt Finance, which is managed by Mercia Fund Managers and part of the Northern Powerhouse Investment Fund.
The funding will allow CPP FM & Projects to create four new jobs and take on additional projects and contracts. The company works primarily on commercial, industrial, educational and public sector property, delivering facilities management and maintenance services, alongside fit-out, conversion and refurbishment projects.
Local projects have included the recent refurbishment of Dearing House, a 20,000 sq ft office building on Young Street, Sheffield which is now on the market to rent, the fit-out of office space at Europa View on Sheffield Business Park, and the renovation of the former Magnet store on Queens Road, Sheffield.
CPP FM & Projects was established four years ago as part of the Commercial Property Partners Group, however the business has stepped up considerably since the appointment last year of a new management team led by Nick Wales, the Managing Director.
Nick Wales said: “We have a strong team in place and deliver a great service but have reached the stage where we are being presented with an increasing volume of opportunities. This funding will allow us to recruit more staff, offer additional services and to deliver a wider range of projects.”
Pete Sorsby, Investment Manager with Mercia, said: “CPP FM & Projects has been growing strongly due to the experience and professionalism of Nick and his team. The loan will support the company as it takes on increasingly significant jobs.”
Grant Peggie at British Business Bank, said: “Historically, funding options for businesses in the North have been scarce, which has held back growth and innovation in the region. NPIF is making a real difference in addressing regional funding gaps between the North and the South, providing a variety of finance solutions that will help small businesses in the North realise their growth ambitions.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.