News & Insights
Latimer Hinks helps local manufacturer to purchase its own premises
Latimer Hinks Solicitors has helped a leading North East manufacturing firm to purchase its own premises.
Taking ownership of its 20,000 sq ft building in West Auckland will allow Atlas Washroom Systems to make savings of around £20,000 per year, which management is re-investing into the business.
Nicola Neilson, a partner at Latimer Hinks Solicitors, conducted the legal work on the deal to buy the manufacturing and office facility, which is valued at around £300,000, for £180,000, with the clients lending being supported by HSBC.
Atlas Washroom Systems, which celebrated its 10th anniversary in April, employs 21 people and is a leading manufacturer and installer of shower and toilet cubicles, wall cladding, bench seating, lockers and ducting.
The company has rented the site, on the Aptec Enterprise Park, since it was formed by former workers of a previous business, which relocated to Suffolk in 2001.
Atlas Washroom Systems managing director, Gerald Shervington said: “The help we have received from Latimer Hinks and HSBC has been invaluable in securing the purchase of our building. This will allow us to make savings that can be re-invested in the site and equipment to drive the business forward.
Nicola Neilson said: “Atlas Washroom Systems is a real success story for the North East, having formed because of a desire by the workforce of the sites previous occupier to stay in the region. The company has now become the North East leader in its field, serving customers all across the UK, and I hope this latest move will help Gerald and his team to bolster that position.
Peter Harvey, commercial manager of HSBC said: “Gerald first mentioned the idea of buying his premises two years ago, as his lease was coming to an end. Having worked with the firm since it was established, I had no hesitation in giving the plans HSBCs backing and I am delighted to have been able to help make this deal a reality”
