A BUSINESS is hoping to reap the rewards after investing more than £1 million in its premises.
Britannia Premier, based in Nicolson Way, Burton, pumped the cash into its self-storage units and bought solar panels to provide its premises with green energy.
The company, which has a removal and shipping arm as well as running the selfstorage units, hopes to complete the upgrade works by the middle of June.
The scheme has been financed by the company’s directors after failing to get credit from a bank.
Managing director Martyn Jones said: “The self-storage company has had some £1 million spent on developing the business.
“Due to the continued success and a current waiting list of clients, it was decided by the directors to commission another building to replicate the currently full storage facility.
“This project will have completed phase one by the middle of June this year. However, due to the ongoing banking crisis, no funding was available at a reasonable rate and therefore it is the directors’ decision to fully fund this new project themselves at a total build and fit-out cost of some £500,000.
“Due to the continued success of the storage business, despite the current economic climate in general, it was an easy decision for the directors to make.” Mr Jones also said the directors had made a difficult decision to invest in solar energy.
He told the Mail: “Once again and not to be beaten, the directors dug deep into their own pockets and installed a 50 kilowatt system at a cost of £120,000, which we believe in the first 12 months will generate circa £20,000 and also supply the company with free electricity.
“With the race to install the panels prior to the cut-off date set by the Government and the lack of commitment from any bank funding, this was a very stressful and challenging time but based on the feed-in tariff which is guaranteed for 25 years and the ever-increasing cost of electricity, we believe this will generate some £750,000.”