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|Collingbourne Group expands car and van hire business with support from HH Asset Finance|
|Tuesday, 14 June 2016|
Newport-based Collingbourne Group is expanding its new car and van hire business launched just last month with new vehicles bought with support from HH Asset Finance.
Practical Car and Van Rentals Newport, part of a UK-wide Practical franchise network, was launched at the start of May with 15 vans financed by HH Asset Finance.
Offering a cost effective way of renting vehicles, the company had so many inbound enquiries within its first four weeks it is already looking to invest in another six vans, again with the support of HH Asset Finance.
Jon Collingbourne, managing director of the Collingbourne Group, which includes Newport Auctions, The Storage and Collingbourne Properties, bought the vehicle hire franchise as a good bolt-on to its storage arm but has been overwhelmed by the immediate success of the new business.
Based at the Storage Group’s 100,000 sq ft premises at the Usk Side Business Park on Usk Way, Newport, it offers access to an extensive fleet of new rental vehicles from small cars and SUVs to mini buses, Luton vans and motorhomes.
With tailored rental solution packages available for both businesses and individual customers, Practical Newport aims to reduce the costs associated with vehicle rentals. It also offers a number of more specialist rental services including truck hire and one-way rentals.
Jon Collingbourne, managing director of the Collingbourne Group, said: “The business has just taken off straight away. We bought the franchise thinking it would be a good bolt-on to our storage business but it became clear to us very quickly that it is going to be much bigger business than we had originally thought.
“We have another six vans on order with the help of HH Asset Finance who sort all the financial side of it for us and make it a really hassle free process.”
Matt Jones, head of HH Asset Finance, said: “We’re really pleased to provide financial support that will allow a new successful local business like Practical Newport to grow and develop.”
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