Castrads secures £300k commercial mortgage

Barclays has funded the acquisition of new premises by a family-run business that makes cast iron radiators in Reddish, Stockport.

Castrads secured a £300,000 commercial mortgage from Barclays Business to buy the 15,000 sq ft building on 0.8 acres at 1 Kenwood Road. The vendor was Sample Studio, a wallpaper sample book maker.

Castrads employs 14 people and turns over £2.5m a year. The business has invested in new two-pack paint booths which guarantee a tough and durable finish.

Chris Baylis, owner manager of Castrads, said: "The opportunity to purchase the new site in Reddish could not have come at a better time for us. The store is in an ideal location and will support the business on its successful growth journey whilst maintaining the highest level of service for our customers.

"We have built a great relationship with Ian over the last 12 months, and the extent of his understanding of the business and determination to support us with this transaction made it easy to choose Barclays. We look forward to working with Barclays in the future as a trusted, strategic banking partner."

Ian Jones, senior business manager for Barclays Business, said: "Castrads is growing despite a challenging economic climate thanks to the astute and hard working management team and is a fantastic example of a family business producing a high quality product which is well received by consumers. The new premises will give the business extra capacity to grow and potentially could provide more jobs for the local community."