East End firm puts recession into storage’
A SELF-storage firm set up in East London by an accountant just as the recession struck is bucking the downturn and is set to reach its first �1m turnover in the next 12 months. The recession isn’t stopping it expanding its operation in a former printworks overlooking the 2012 Olympics site
A SELF-storage firm set up in East London by an accountant just as the recession struck is bucking the downturn and is set to reach its first �1 million turnover in the next 12 months.
The recession isn't stopping it expanding its operation in a former printworks in Bow overlooking the 2012 Olympic Park.
The firm, Attic Self Storage, has a list of 190 regular customers with its 30,000sq ft of space to let in the private and commercial markets.
It was set up by Chartered accountant Frederic de Ryckman de Betz on the site of Dudley Printers, just off Wick Lane, which had been vacant and derelict nearly five years.
"I've always has the ambition to run my own business," said Frederic. "Despite setting up just before the downturn, we've managed to establish a successful business that is continuing to grow."
The firm has now completed the second phase of its expansion, fitting out 10,000sq ft to its initial 20,000sq ft, as well as a 6,000sq ft trade counter which has also been sub-let.
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The expansion is being paid for with a �520,000 Lloyds TSB Commercial loan, backed by the Government's �1.3 billion Enterprise Finance Guarantee scheme which lets small firms with a turnover under �25m get their hands on the cash they need to grow.