A motorcycles retailer is building a new showroom in Peterborough after securing a £750,000 loan.
Webbs Motorcycles plans to open the 10,000 sq ft showroom and service centre in Kingston Park early next month.
The company is funding the venture with a loan from Barclays bank.
And the venture is expected to create 17 jobs.
It will sell new motorcycles through the company’s Yamaha and Triumph franchises and will offer a range of clothing and accessories and used motorcycles.
Now a second generation family business, Webbs Motorcycles was established in August 1960 and set up shop shortly after in Lincoln.
Alastair West, relationship director, corporate banking at Barclays, said: “It has been a long held strategic vision of the company to develop their own purpose built showroom in Peterborough.
“The funding we have provided has supported that vision and will enable the company to continue to grow the business.”
Andre Waszczyszyn, director of Webbs, said: “Barclays has been interested in the Webbs’ business since the early 1970s and has seen us through some very tough times and encouraged and advised us through to the present day.
Webbs of Lincoln has retailed Yamaha motorcycles since 1975. The range was expanded in the early 90s to stock the newly re-launched, British built, Triumph motorcycle brand. The company opened a twin business in High Street, Eye, Peterborough in 2003 on the site of a previous motorcycle retailer.
The sale of the site has been arranged by commercial agents Barker Storey Matthews with Savills.
The showroom will be built by Barnack Estates UK.
Rob Facer, managing director of Barnack Estates UK, said: “Kingston Park’s location close to the Frank Perkins Parkway which provides excellent visibility has helped propel the popularity of this estate.
“We are delighted to have concluded the deal with Webbs Motorcycles and wish them all the best in their new premises.”
Richard Jones, director at Barker Storey Matthews, said: “Kingston Park has been an exceptionally popular development since its inception with only two plots and two speculatively built units available.
“The site is set to house a number of prominent local, national and international businesses including Vanquish Autos, Remark Group, Capital Hair & Beauty and Vogal Group.”