RT Julian & Son Ltd., an England-based company that operates three Newquay Self Storage facilities, has secured a multi-million pound financial package from Lloyds Bank Commercial Banking to fund portfolio expansion. The company intends to develop 21,000 square feet of new self-storage to meet demand in Newquay, England, as well as acquire and refurbish a commercial property next to one of its existing sites, according to the source.
Baylor Julian, founder and managing director of RT, credits the company’s changing business model as the driving force for growth. The firm has expanded from offering its containers for strict storage use to renting them as offices and warehouse space, creating a new niche in the local market.
The company noticed a growing demand for these offerings in the area, Julian told the source. "We quickly developed our new business strategy and have helped many local businesses start up. We also supported a German film crew to film episodes of ‘Rosamunde Pilcher,’ which led to a tourism boost for the area. This and the start-ups have generated an estimated £30 million of income to Cornwall,” he said.
The company expects revenue to increase by 40 percent during the next five years, the source reported.
"RT Julian & Son is a great example of a business that has grown organically after changing its business model to meet local demand,” said Michael Tonkin, relationship manager at Lloyds Bank. "Its containers enable hundreds of businesses to operate locally and have helped create hundreds of jobs for the area.”
Newquay Self Storage locations offer storage containers for commercial and residential use, as well as document storage.
Insider Media, Storage and Office Space Firm Expands With Bank Backing