Premier Cars, a retailer and repairer of used cars in Romford, Essex, has purchased a new 180-car garage after securing a seven-figure commercial mortgage from HSBC UK.
The new larger site will allow Premier Cars to increase its stock capacity by 80 per cent and showcase a wider variety of used cars to its customers. The business has leased its previous 6,600 sq.ft. premises in Romford and moved into the 21,500 sq.ft garage nearby on London Road, Aveley.
The new garage, which features MOT bays and service repair work areas, also allows Premier Cars to bring its vehicle repair and servicing in-house, after six years of outsourcing. As a result, the business has created 10 full and part-time jobs, including mechanical engineers, MOT testers, tyre fitters and a receptionist.
Established in 2010, with just six cars to its name, Premier Cars has experienced consistent growth and hopes to continue to build on the momentum it’s experienced over the last few years.
Shahzad Haider, Chairman of Premier Cars, said: “It was important for the business to move into our new garage as we were outgrowing our old premises and needed extra room to display more, quality used vehicles to our customers. The whole team at Premier Cars is excited to start this new chapter and, thanks to the support from our Relationship Manager at HSBC UK, Sasha Mills, we have the opportunity to grow the business further.”
David Skipp, HSBC UK’s Business Banking Area Director for Essex, said: “HSBC UK is committed to supporting SMEs across the South East to help them realise their ambitions. Since its inception, Premier Cars has quickly managed to establish itself as a quality car retailer and repairer in Essex. HSBC UK was happy to support Shahzad and his team, we wish them the best for the future.”