Member Article

£4 million HSBC investment finances Northallerton forecourt firm project

Exelby Services has secured a £4 million finance package from HSBC to support the development of its new filling station services and truck stop on the A1M at Leeming Bar, North Yorkshire.

Work has now commenced on site and is expected to be complete by September.

The £6.5 million project will create a service area to meet the specialist refuelling and rest needs of HGVs and their drivers, including 150 secure parking facilities and will lead to 15 new jobs.

The facility, which will include retail facilities, a branded food outlet and Costa Coffee, will provide Diesel, Petrol, AdBlue and Gas Oil. It will also be available to the general motoring public.

Exelby Services submitted plans in 2010 to move from its current site at nearby Londonderry as the A1 upgrade has meant trucks currently have to detour along the A1(M) service road to reach it.

The new service area is adjacent to both the A1 and the Leeming Bar Industrial Estate.

The company has switched its full business banking to HSBC’s North East Corporate team as part of the deal, which was led by Senior Corporate Banking Manager Chris Bennett.

Turnover at the company, which employs 60 people, has grown to £38 million and it is expected that the new site will increase turnover by 30%.

The company handles over 120 million litres of fuel each year and stores diesel for most of the major transport, distribution and fuel card companies at its sites.

Chief executive Michael Exelby said: “We have been working for over 10 years on this project. It has been a long journey but we are delighted and excited to have finally broken soil on the site.

“The new facility is vital for this stretch of the A1M because over 5 service areas and over 200 HGV parking spaces have been lost due to the motorway upgrade.”

HSBC Senior Corporate Manager Chris Bennett added: “Exelby Services is a business that has shown time and again that it can adapt and flourish.

“The passion they have shown in bringing this project to fruition is testament to the strength and ambition of the management team.”

This was posted in Bdaily's Members' News section by Clare Burnett .