PATTERSON Ford has announced plans for a £600,000 refurbishment of a dealership on Tyneside.

The revamp of the Scots-wood Road site in Newcastle follows a 40 per cent rise in vehicle sales and a turnover in excess of £120m.

The makeover involves a recladding the building in silver aluminium, replacing signage, a new showroom, offices and customer car parking. Also upgraded will be the company's Rapid Fit workshop.

Patterson Ford, which employs more than 300 staff, called on financial services provider Lloyds TSB Commercial to help finance the refurbishment.

Cliff Thornton, finance director at Patterson Ford, said: "We have an excellent relationship with Lloyds TSB Commercial, due to the bank's first rate understanding of the various complexities of the business.

"The bank respects our high level of management and diligence, which has helped them to support us through two acquisitions in the last five years."

Barry Schofield, senior relationship manager at Lloyds TSB Commercial, added: "Patterson Ford is a capital intense business and the company's management of this investment is of the highest order.

"It is rewarding to see the techniques and strategies implemented this year bringing visible benefits to the business across the board."