Manchester wholesaler to service expanding regional rental market
Furniture business DSF Limited has secured a £50,000 investment from NPIF - BFS & MSIF Microfinance, - a product fund managed by GC Business Finance & MSIF and part of the Northern Powerhouse Investment Fund to fund a new facility in East -Manchester.
Founder David Wilkinson, a highly experienced brand and company builder, launched DSF to supply furniture to landlords, letting agents and developers operating in the property rental market. Having spent 30 years in global marketing, David and his Head of Operations partner have seen the growth of the rental market across Europe and launched their business model in 2016 to meet growing demand in the North West initially.
The NPIF loan will be used to develop new premises and to create five new jobs in 2018, with further jobs to be created over the next few years.
With warehouses in Manchester the company is importing furniture from China and Poland to sell both single items and whole furniture packages that can be delivered and installed within 24 hours to furnish rental properties. The products start with a basic student flat collection of 12 items and includes different ranges for landlords furnishing multi-occupancy properties. DSF is also planning to furnish show flats in developments to showcase the higher end products to the buy to let market.
David Wilkinson said: “Strong rental figures across the North West are boosting the
property market*, a trend that we are now ideally placed to respond to, using the funding from GC Business Finance and NPIF to import and warehouse our high quality, cost effective ranges,.
“Their support has also meant that we’ve been able to really fast track and expand our network of clients, knowing that we will be able to meet demand and to grow the business year on year.”
Andrew Nichols, Senior Loan Manager at GCBF, said: “This region has a particularly active property investor market, with over half of the entire housing stock in Manchester lying in the private rented sector** and Liverpool recently named as the strongest area in the UK for rental returns*.
“DSF is now able to make real inroads into that marketplace and beyond and is a great example of where NPIF funding can make a real difference. We’re delighted to be able to help them to create jobs in Manchester and to lay a solid foundation for the growth of the company for years to come.”
Sue Barnard, Senior Manager at British Business Bank, said: “With the North West’s property market well and truly thriving, DSF is in a strong position to capitalise on this prospering region. This new funding will allow the company to move premises and bolster its headcount, which will help DSF meet the growing demand for its services. We’re confident that David and the team will see fantastic results over the next few years.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Businesses seeking further information about the Northern Powerhouse Investment Fund can contact http://www.businessfinance.growthco.uk or call 0161 245 4977.