One of the UK’s largest manufacturers of wall art and clocks is set for growth following the purchase of a new headquarters, with support from a seven-figure funding package from Lloyds Bank.

Founded in 1987, Brookpace Lascelles produces more than 100,000 reproduction artworks and wall clocks from its workshop in North London each year.

The family-run business, whose global customer base includes museum giftshops and retailers including John Lewis and Wayfair, is now set to boost turnover by up to 50% after securing a £1.2 million loan from Lloyds Bank.

The funding has enabled Brookpace Lascelles to purchase a new 5,500 sq. ft. premises in Borehamwood, with renovations expected to complete by the Autumn.

The new warehouse will be tailor-made for the business, with planned works to include removing and raising the roof to create an additional floor, expanding the overall floor space to 9,500 sq. ft.

It will feature an innovative factory floor layout with bespoke workbenches and a new goods in/goods out system that will increase efficiencies and boost production by up to 50%.

The business also plans to introduce a number of eco-friendly measures, including the addition of solar panels and a more energy-efficient heating system.

Brookpace Lascelles, which currently employs 15 staff, believes the investments will boost turnover, creating up to 5 new jobs during the next twelve months.

Gerard Bendien, managing director at Brookpace Lascelles, said: “For almost 35 years we’ve put great design and quality at the heart of our business, helping us to grow a loyal family of customers around the world.

“The move to our new headquarters will give us the space to continue growing and providing our customers with the very best products to add style, glamour and luxury to their interiors.

“The support we’ve received from Lloyds Bank has helped us position ourselves for growth and allowed us to take that next step in our development journey.”

Ben Clarke, relationship manager at Lloyds Bank, said: “Brookpace Lascelles stands for more than three decades of quality British manufacturing and it’s fantastic to see the business continuing to find new avenues for growth.

“This latest investment will be transformational in giving the firm the headroom to continue expanding and building on its existing reputation for excellence.

“Lloyds Bank is working closely with businesses across the UK, providing the tailored funding and support they need to continue navigate the months and years ahead.”