Funding for the unit purchase has been made available by their new banking partners, NatWest.
Lorrford is an independent privately owned Freight Forwarder specialising in driver accompanied groupage services throughout Europe. Established in 1975 they are full members of the British International Freight Association. Their core business is built around scheduled groupage services to and from Europe. Alongside this they also provide worldwide air and ocean shipments. Within the UK they provide road haulage services through their sister company Balin Distribution. From a storage perspective they offer over 8,00sq ft of space in Basildon.
The newly purchased site is 25,000 sq.ft in size. It offers the company the opportunity to establish a workshop to service the fleets of both the Lorrford & Balin businesses and provide additional yard space to park vehicles.
NatWest has advanced £500,000 as part of a new banking package with the company to purchase the freehold of the new site.
Speaking about the expansion, company director Roy Waterhouse said: "The new site provides us with valuable space to erect a workshop . As we have grown the business over the years we have steadily increased the fleet size. We needed the ability to maintain the fleet in one area, so the opportunity to purchase land at the back of our original depot made perfect sense."
Paul Marsh, business development director, commercial banking at NatWest who helped put in place the new funding added: "Both Lorrford & Balin have grown steadily over the years thanks to sound business planning and financial investment. This latest purchase shows how they are steadily building the company, ensuing they are well placed to continue to grow."