CONTRACT Flooring Group of Bromsgrove has announced plans to relocate to new-build premises in a £3.864m development project which triples its current size.

The company has acquired space on Bromsgrove Enterprise Park and work is underway to build two new warehouses and office units to house its two divisions Contract Flooring Solutions and Poplar Carpet Centre. One will consist of a 32,631 sq ft storage building for Contract Flooring Solutions and the other an 11,000 sq ft building for the Poplar Carpet Centre Ltd, which will include a trade showroom and upstairs office space for the Contract Flooring Group team. In total the Group currently employs 180 people and aims to create a significant number of new jobs with the relocation and aims to increase staff levels to 250 by summer 2017.

Funding to support the expansion has been provided by the Royal Bank of Scotland with a £2.705m loan and invoice discounting facility. Contract Flooring Group fit floor coverings including carpets and hard flooring for blue chip national house builders across the Midlands. The firm is expanding rapidly across the UK and the acquisition of development land to construct new premises comes on the back of the company’s success with winning new contracts and plans to consolidate its two existing sites on Saxon Business Park and Harris Business Park, both in Bromsgrove.

Steve Day, managing director of Contract Flooring, said: “We are growing at a compound rate in excess of 30% per annum so by consolidating our current sites and constructing larger premises we are looking to accommodate the next four years of expected growth. Contract Flooring Group’s turnover is growing - last year we recorded £9.1million and this year we are on target to exceed £12million. Alongside this growth success we have received brilliant support from Dave Robinson at the Royal Bank of Scotland and Jacqui Shea at RBS Invoice Finance. Together they have structured a funding package that is supporting our growth ambitions and future relocation.”

David Robinson, Head of Manufacturing Midlands at Royal Bank of Scotland, said: “We have worked closely with the team at Contract Flooring Group for over four years and the business has enjoyed rapid growth. We have funded both sites on Harris Business Park and Saxon Business Park and are delighted to support them with this next exciting phase of development. It was only two years ago the business relocated to a new 10,000 sq ft site on Saxon Business Park and its success is highlighted with these new plans to a build premises more than triple its current size.”