Deal helps Wirral Chamber of Commerce secure Egerton House

The £2m loan made it possible for the chamber to buy Egerton House in Birkenhead, which is situated on the edge of the town's Wirral Waters development.

A spokesperson for the Chamber said the process of accessing traditional financing options was 'increasingly challenging'. It turned to West Kirby-based business finance specialists Bathgate for help to find a viable funding solution.

The company worked with Chirag Mistry, relationship director for Reliance Bank, a lender with a history of loaning to community-based projects, to secure the deal.

Left to right: Paula Basnett (Wirral Chamber) and Gordon Andrews (Bathgate) inside Egerton House (Image: Andrew AB Photography) Paula Basnet, chair of the Board of Wirral Chamber of Commerce, said: "When the opportunity to acquire Egerton House presented itself, we knew in our hearts that this was more than just a transaction.

"It was an investment in the future of Wirral Chamber and the entire community it serves.

"By taking ownership of the property, we were not only securing a stable foundation for Wirral Chamber in the short term but also laying the groundwork for its enduring legacy for generations to come.

"Our vision extends far beyond mere stability; it's about creating a lasting impact that transcends time.

Left to right: Gordon Andrews (Bathgate) and Paula Basnett (Wirral Chamber) at Egerton House (Image: Andrew AB Photography) "Egerton House is not just a building - it is a symbol of resilience, progress, and the unwavering spirit of entrepreneurship that defines Wirral Chamber.

"By safeguarding their futures, we are ensuring that the Chamber remains a vital lifeline for businesses, a catalyst for growth, and a pillar of support for our community for years to come."

On the Chamber’s partnership with Bathgate, Paula added: "Our partnership with Gordon Andrews and the Bathgate team has been instrumental in our journey towards supporting businesses on Wirral.

"Their expertise and dedication to empowering local enterprises have made a tangible difference in our community. When the opportunity arose to acquire Egerton House, we knew that we could rely on Bathgate to provide the advice and support necessary to make this endeavor a success.

Left to right: Paula Basnett (Wirral Chamber) Gordon Andrews (Bathgate) outside Egerton House (Image: Andrew AB Photography)

“Their deep understanding of the local business landscape, coupled with their strategic insights, made them the perfect ally for this ambitious undertaking."

Since the deal, Egerton House has been transformed into a modern open-plan office space and is currently the dynamic and collaborative home to 45 local businesses.

The newly acquired premises not only enhance productivity and efficiency but also foster a culture of creativity and innovation that will propel the Wirral community forward.

Bathgate's managing director Gordon Andrews, said: "As a Wirral-based business ourselves, we recognise the vital role of the Chamber in the economic growth of the region and how it helps local businesses to thrive.

"This deal posed some unique challenges, including finding a funder who would agree the loan based on the Chamber’s ambitious vision and projections around tenancies, potential for social impact and return on investment.

"Through our extensive network and relationships with a wide range of alternative funders, and working closely with the Chamber’s finance director, Neil Coles, we brokered an excellent deal with Reliance Bank that allowed the Chamber to make this vital investment.

“The acquisition of the property has physically placed Wirral Chamber and the businesses it supports on the edge of one of the UK’s largest redevelopment areas, Wirral Waters, with access to tailored support services, networking opportunities, or access to resources and expertise.

“Strategically, this positions the Chamber as a catalyst for success and allows it to forge on with its core mission - to collaborate with as many businesses as possible, empower them to unlock their full potential and achieve their growth objectives.”

The Chamber's five-year strategy includes the modernisation of the whole internal part of Egerton House and starting projects into renewable energy, with the aim of making the building 'Net-zero'.