Business up as lease finance finds favour

Bluestone Leasing of Wakefield has seen an 80 per cent increase in new business in the past 12 months, the company has revealed.

The business, one of the UK's largest independent leasing companies, says more customers are opting to adopt lease finance rather than deal with banks.

Chief executive Phillip Bennett said: "In spite of the extraordinary economic circumstances of the past 18 months we have seen a significant rise in new business across all sectors and from all business types from small to medium-sized enterprises to large corporate to public sector.

"Despite the banks's insistence that they are still offering credit and loans to business our clients tell us that funding for business is still very hard to access with banks's credit criteria becoming increasingly tough. As a result leasing is becoming increasingly attractive as a means of investing in a business."

Bluestone offers technology-focused asset funding.

A Brockton Capital fund has acquired The Pinnacle, a prominent 145,000 sq ft, mixed-use asset in Leeds city centre, for around �65.0m. Picture: McCoy Wynne

Tallest office block in Leeds is sold for around £65m