When a syndicate of four successful Bradford businessmen spotted an opportunity to buy an industrial property at auction, they knew they had to have it.
They spotted the potential to turn a 13,487 square foot building, on an industrial estate close to Halifax town centre, into seven smaller ones, making it ideal for start-up businesses.
The four of them, Fazal Ul Rehman, Mohammed Hussain, Sajid Mahmood and Jamil Ahmed, ran Kingspark, a highly acquisitive property company.
Normally they would have purchased the building using their own cash reserves, however, with capital tied up in other properties, they needed a quick capital injection to enable them to snap up the industrial unit when it went under the hammer.
They had to act fast so as not to miss the deal and were introduced to Reward Finance Group by Brian Snape of Mighty Oak Business Finance who, having worked with Reward before, knew we could quickly provide the funds to buy the building and also provide money for its refurbishment.
Associate Director of Reward, Karen Paige, met with the Kingspark directors and was impressed with the skills each one brought to the company, as Fazal is a chartered accountant, Sajid an estate agent, Jamil a solicitor and Mohammed a successful businessman.
Their property portfolio also demonstrated they had made a number of extremely shrewd investments providing an excellent return.
We therefore provided them with a Business Finance facility which meant they could confidently bid for the property, which they were able to snap up for £270k.
Fazel was impressed with Reward,
“We are grateful to the Reward team for its professional approach and for quickly understanding what we wanted to achieve and the speed they provided the funds,” he said.
“They did this without making us jump through hoops, so we did not miss out on the opportunity.”