Finance for Fit-Out: Woodpecker Flooring

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Finance for Fit-Out: Woodpecker Flooring

A New Office for Woodpecker Flooring

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Background

Established for over twenty years, Woodpecker Flooring is a family business, passionate about the personality, life and atmosphere that wood flooring brings to the home. From humble beginnings, the business has grown from a single, small factory to thirteen, state of the art manufacturing facilities spread around the world.

Woodpecker had expanded to the extent that their head office was no longer big enough – meeting rooms were having to be used as offices, which was not ideal and nowhere to bring customers. An adjacent 6,000 ft2 redundant engineering works was purchased which needed extensive renovation and modernisation. Major works were necessary to achieve the space required, including installation of a mezzanine floor, re-cladding the building, installing curtain walling into the front of the building, floor to ceiling to create a light and airy atmosphere in the new offices. Woodpecker also wanted to achieve a contemporary feel with their fit out.

The Solution

From the very start of the process Woodpecker were clear that they wanted to take full advantage of the tax benefits that leasing their project could give them. At the beginning of the project two contractors were appointed - one for the structural works and one for the fit out. Just prior to the fit out work commencing, the fit out contractor was changed due to failing to perform as agreed.

A new contractor, OEG from Bristol, an award winning Design Build Office Fit Out company was appointed who responded at very short notice, to design and install a truly inspirational workplace which has radically improved the atmosphere and productivity of the new offices. Change at such short notice can be problematic but we were able to accommodate this due to the close relationship we have with the funder in question. This meant that all works were completed to schedule.

“Due to the size and scope of the project we were keen to use a finance solution both to allow us to benefit from tax advantages and to make sure that we weren’t tying up large amounts of capital. We made a fairly last minute change to one of the major suppliers working on this project which Bluestone dealt with efficiently and meant that the project wasn’t delayed at all.”

Nelson Ker, CEO

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