Property business targets Aldridge expansion

B&E Dowd, founded in 2003 by brothers Eugene and Brendan Dowd, has secured a loan for its site at Rossway Business Park, which consists of four units that provide office space for 16 local businesses – including software and manufacturing firms and an accountancy start-up.

The business developed the 8,000 sq metre site after purchasing the land in 2006 and will now develop the office suites and the site further as well as introducing additional facilities using the financial package.

The loan, which forms part of Lloyds Bank’s commitment to lend up to £2.5 billion to Midlands businesses during 2019, will also help the business to expand its footprint further across the region by growing its portfolio of five properties in the Black Country.

Eugene Dowd, co-owner of B&E Dowd, said: "Our site at Rossway Business Park is home to so many ambitious businesses and this funding will help us to offer our tenants even more support, as well as giving us the platform we need to take the next step in our own growth journey."

B&E Dowd recently switched its banking facilities to Lloyds Bank following a competitive process. Lloyds Bank is now providing banking facilities and working capital funding lines in order to help drive the business’s development.

Eugene continued: "We wanted to partner with a bank that has a strong local presence and can offer us expertise in the property sector, which is exactly what we found in Lloyds Bank. Our move reflects the team’s support for our growth strategy and we look forward to working with them as we continue to expand."

Adam Pound, relationship manager at Lloyds Bank Commercial Banking, said: "B&E Dowd is a great example of the ambition we look to back as part of our plan to help Britain prosper. The brothers at its helm have moved quickly to leverage the opportunities presented by a thriving local market and, as their new banking partner, we’re looking forward to playing a role in the business’ ongoing success."