Exeter kitchens and bathrooms designer to expand

A Topsham-based designer of luxury kitchens and bathrooms has doubled the size of its premises and created two new jobs after securing a five-figure funding package from Lloyds Bank Commercial Banking.

The funding has enabled Sapphire Spaces to acquire an additional unit adjacent to its current base at Dart Business Park. This brings its total floor space to 7,000 sq ft, giving the firm the space it needs to pursue its growth ambitions.

Sapphire Spaces now plans to open a new bathroom showroom to better showcase its growing offering. In addition, it will replace its current furniture showroom with a larger facility that can accommodate a greater range of products. It will also see its team grow to ten people, improving the quality of service offered to its customers.

The company offers a variety of kitchens from exclusive designer Bulthaup, together with a range of bathrooms and wet rooms from brands such as Toto, Armani, Lefroy Brooks and Ashton & Bentley. It also offers a wide choice of interior design solutions, from spiral wine cellars to collections of iconic furniture from Republic of Fritz Hansen, Vitra and Carl Hansen.

Mark Newbery, managing director of Sapphire Spaces, said: “We have ambitious long-term growth plans, and when the adjoining unit to our premises became available, it made sense for us to take the opportunity to acquire it. The additional space means we can realise our ambitions without having to move in the future.

“We’ve always prided ourselves on helping our customers achieve a touch of luxury as they renovate or develop their home. Lloyds Bank has helped us invest in our facilities and teams to make sure we can further improve the great service we’re known for.”

Leo Robbins, relationship manager at Lloyds Bank Commercial Banking, said: “Sapphire Spaces is a great example of a business with impressive growth ambitions that can play a role in driving economic growth in the South West, creating new jobs for the region.

“This financial package is part of our pledge to increase lending to SME companies on a net basis by more than £2bn during 2016, building on our six years of consistent lending growth, during a time when lending has declined across the industry.”