A lighting firm has snapped up a Bradford base for £1 million.

Loxton Lighting Ltd, which is based on Carlisle Road, has bought part of the Flexiform Business Furniture Ltd facility in Leeds Road.

The 90,000 sq ft site was sold to Loxton after Flexiform, which manufactures office storage systems, decided to sell off half its base to raise capital for an investment programme.

The section of the site, which was sold by the Bradford branch of property agents Eddisons, was used by office furniture firm Flexiform as a warehouse. Loxton, which imports and supplies internal decorative lighting, currently employs 40 at its site at Pudsey. It said the move will create around ten new jobs.

Carl Busfield, pictured,Loxton's company secretary, explained: "We will be moving into the site during the first week of March.

"We needed a larger headquarters as our current site has just four little warehouses, which are bursting at the seams. We enjoyed a good year in 2002 which prompted us to obtain the larger premises and hope we will now be able to cope with a surge in demand.

"The move will improve our services and allow us to create extra revenue." Flexiform, part of Leatherhead-based Bullough Group plc, announced its major investment scheme last year.

The firm, which employs 96 people, has ploughed the money generated by the sale back into the business.

Nick Saunders, Flexiform's sales and marketing director, explained: "We decided to sell around half of our Bradford base to raise money to invest in new manufacturing equipment, and it's proved quite a natty way of doing it.

"The site is massive and extends back around half a mile from the Leeds Road.

"We've sold off old equipment and used the money raised by it and the site sale to buy modern equipment which takes up around half the space."

Flexiform, which has operations in London and Edinburgh, has been in existence for more than 70 years.

The firm moved from Leeds to Bradford in the 1980s. Last year turnover was £8.4 million.

Mr Saunders added: "This year we hope turnover to hit £9 million, and make profits of around £400,000, so far everything is going to plan."

The investment and two new product lines, which are set to launch in April, could lead to an increase in staffing.

At the end of last year Flexiform launched a new division - Asgard.

The firm, which makes home security storage systems, is launching a new product at this year's Chelsea Flower Show.