Stockport-based South City Studios has secured a six-figure loan as part of the Northern Powerhouse Investment Fund (NPIF), after being referred to FW Capital.
Established in 2017, South City Studios (formerly known as The Stockport Studios) specialises in providing high-quality production and pre-production media facilities in the North of England. Its clients range from music industry professionals, globally recognised artists and local and regional home-grown talent.
Following strong financial performance over the last two years, the business was able to fund the development of additional studio spaces, increasing overall capacity to 15 permanent rooms and a further four rooms available for flexible bookings.
Director Paul Bowe was referred to the Access to Finance* team in September last year after an initial meeting with an Account Manager at the GC Business Growth Hub*.
Access to Finance Specialist Adviser Geoff Clowes carried out a site visit and met with Director Paul Bower to discuss all areas of the business, allowing him to produce a comprehensive 16-page report which provided the core content of the loan application that was put to FW Capital.
Loz O’Connor, FW Capital’s Fund Manager led the investment following the introduction.
After receiving the £150,000 funding, South City Studios further expanded, creating additional rehearsal studios as well as a new 500 capacity pre-production room for artists to rehearse and record in a venue setting.
Paul Bowe said: “We’re proud to open and bring something global to the South Manchester area, making our mark in a unique way with a high-end pre-production room. We’re meeting increased demand and have welcomed some high-profile names through our doors including Johnny Marr who has also been involved as a project consultant, Elbow, Blossoms, and Fuzzy Sun.
"Access to Finance were brilliant from day one. The support and communication throughout the application process was first class. It was great to build such solid relationships with Geoff and Loz whose belief and vision in my development has really catapulted my business to another level."
This is the largest sound studio in the North and provides private VIP facilities for the artists and their sound and lighting technicians to prepare for live gigs and tours.
It is anticipated that the investment will also create two additional jobs and help the rebranding to South City Studios.
Geoff Clowes said: “I was delighted to support Paul Bowe of South City Studios in securing funding to create much needed in demand rehearsal and pre-production space for local and international music artists.
“Paul’s drive and vision will undoubtedly attract artists into Greater Manchester to use such top-quality facilities and this in turn will be hugely beneficial to the regional economy.
“It was also good to work in close collaboration once again with Loz O’Connor of FW Capital under the Northern Powerhouse Investment Fund, to support another business with high growth aspirations and potential.”
*Access to Finance and GC Business Growth Hub were previously funded by ERDF. To find out more about our previous ERDF funded offer click here.