Company

TJLB Developments is a new property development and investment business based in Northumberland. It is owned by both Tony Johnson, who operates a trio of businesses across the North East, and fellow director and entrepreneur Lauren Beeforth.

Funding Requirement

A £315,000 funding deal has enabled the pair to launch TJLB and purchase and transform Garth House – a new office complex in Guisborough, Cleveland.

Finance Solution

TJLB Developments will utilise the working capital facility to undertake refurbishments on New Garth House and make it available for businesses to rent, with interest already being received from local companies in the retail and healthcare space. The building, formerly owned by an accountancy firm, spans 4,595 sq. ft. and provides convenient access to local amenities due to its prime location in Guisborough town centre.

It is expected to be the first in a series of property acquisitions by TJLB, with the new firm turning to Reward to seize the opportunity and act quickly in completing the transaction.

Aaron Tinmouth, Business Development Manager for Reward Funding in the North East, commented: “Being able to give entrepreneurs in the North East the financial catalyst to launch a new business and drive economic growth in the region is hugely rewarding.

“In the fast-paced commercial property market, we recognise that developers like TJLB need to access funding quickly to either realise new investment opportunities, leverage existing assets or bridge a sale. We’re delighted to have been so responsive in enabling the client to secure their first property and look forward to the transformation of New Garth House and seeing their continued success.”

Client Testimonial

“Launching any new business is always difficult. However, being able to fund the acquisition of New Garth House and the necessary refurbishment work is just the springboard we needed. We wanted to move fast to capitalise on the market opportunity presented by this unique development, so needed to secure funding within a tight timeframe to get the transaction over the line and make swift progress with the building renovation. This is where Reward was able to support, as the team invested the time in understanding our business needs and were able to provide an agile finance solution.

“We have ambitious growth plans for TJLB Developments across the region, with New Garth House as the first piece of the jigsaw in our aims to invest in and develop a further five properties in the next 12 months.”

Tony Johnson, Director and Co-founder of TJLB Developments