One of the largest UK importers and manufacturers of gardening, DIY, catering, leisure and homeware products is expecting to double its turnover in the next three years after moving to Nottingham.

Rapidly expanding Bonnington Plastics has moved across the East Midlands from Hoton in Leicestershire where it previously rented offices and warehousing at two locations.

But, after outgrowing its premises, the one-stop shop for customers in a variety of sectors has now bought nearly 150,000 sq ft of office and warehouse space in Glaisdale Parkway in Nottingham.

The funding of the new headquarters, along with working capital requirements, has been possible due to the Investing for Growth initiative introduced by Yorkshire Bank.

The company supplies products to customers including B&Q and Wilkinsons across the country.

Ian Fisher, managing director of Bonnington Plastics which was set up by his parents Paul and Marilyn Fisher in the 1960s, said turnover had more than doubled in the last five years.

"We previously rented offices and warehousing in Hoton but we then had to rent additional warehousing nearby due to a shortage of space," he said.

"Business is booming. We expect to reach a turnover of £15 million this year and our plan is to double turnover again over the next three years.

"To be able to do that we needed bigger premises and it also made sense to buy rather than continue to rent.

"We have now purchased offices and warehousing in Glaisdale Parkway and trading from one location makes logistical sense. 

"We also have the capacity for further growth so this is a sound investment for the short and long-term future. 

"The majority of our plastic products are imported from China which means we need storage space until we transport the goods to our customers who are mainly based across the British Isles.

"Yorkshire Bank's Investing for Growth initiative is ideal for expanding companies like ours who want to buy their own premises and ensure they have everything in place to take advantage of business openings which come their way."

Dave Simpson, senior partner at Yorkshire Bank's Financial Solutions Centre in St Peter's Street, Derby, said Bonnington Plastics was on course to reach its business goals by 2013.

"Investing for Growth has been set up to help trading businesses invest in quality growth opportunities by buying or expanding their premises, hiring new staff, launching a new product or winning a new contract," he said.

"This has been introduced in response to customer demand for flexible support as confidence returns to the economy.

"We were delighted to put together the financial support to help Bonnington Plastics continue in its upward curve as a rapidly growing business in the East Midlands."