A used van company in Cricklade, Swindon, has secured a seven-figure finance package from HSBC to acquire a new 1.8-acre industrial estate.
Big Van World – formerly Austen Trading – has bought the site next to its existing premises on the Chelworth Industrial Estate to bring its body shop, workshop and retail unit under one roof. The workshop was previously located two miles away at a site along the A419, which the owner of Big Van World has now leased to BP and Marks & Spencer.
The business has also used the seven-figure finance facility from HSBC to fund the rebrand from Austen Trading to Big Van World, which better reflects the company’s evolution from a van dealership to a nationally recognised commercial vehicle supermarket.
Mike Austen, managing director of Big Van World, said: “HSBC was able to put an incredibly competitive finance package in place that will save us more than £100,000 over the 15-year term of the loan. Our new consolidated site means we are now able to provide customers with unrivalled choice from one location, giving them the best experience possible. HSBC’s support in helping us expand is enabling us to steer the business towards becoming a household name for vans.”
Sarah Lucas, HSBC’s area director for Bristol, Gloucestershire and Wiltshire, added: “Big Van World is an ambitious and forward-thinking business that is adapting to become one of the biggest players in the used van market. Bringing everything under one roof supports the business’s strategy to match what those in the car industry are doing, and it means they can be competitive on price and quality. HSBC’s support demonstrates our appetite to see local businesses in Swindon and beyond prosper.”
Big Van World has been operating since 1998. It stocks around 600 used vans on its site in Cricklade at any one time and last year it sold more than 2,000 vehicles.
Pictured above: Mike Austen of Big Van World