Oxfordshire automotive suspension company, Nitron, has purchased new premises in Eynsham using a £280,000 commercial mortgage from HSBC. The new site provides 9,000 sq ft of floorspace on the ground floor - double that of Nitron’s previous rented premises.
The additional capacity has helped the company secure new contracts and will enable it to improve product supply, ultimately benefiting its worldwide customers.
Nitron develops and manufactures road and track suspension for high performance tuners, race teams and manufacturers, supplying over 200 Nitron dealers across Europe, Asia, the US and Australasia. The company’s newest contract wins include Lotus and TVR.
Owner Guy Evans was struggling to find a mid-size property locally for Nitron to move to when the company’s lease ended towards the end of last year. He was particularly keen to stay in the local area in order to keep his 24-strong team, many of whom have been with the company since it began and have developed specialist skills through their work with highly intricate components.
Evans eventually found a derelict building for sale in Eynsham, five miles from the company’s rented premises. With HSBC’s support, the purchase went through quickly. The team then stripped the site back to its shell, refurbished it and has now moved in.
Evans said: “We’re excited to be in and have already secured new contract wins. Owning our premises rather than renting means we can start installing our hydraulic test machines which we couldn’t do in our last place. We can also improve our product supply and with such a sizeable site there’s plenty of room for growth.
“I’ve banked with HSBC for 18 years and have always been happy with the great service the team provides but they’ve really gone above and beyond in helping us secure our new site in such a short space of time.”
Ian Nash, HSBC area director for the Thames Valley, said: “We’re delighted to have helped Guy purchase his new Eynsham site. Remaining in Oxfordshire has enabled him to retain his highly-skilled team and by doing so the company is on track to realise its growth plans.”
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