Hastings-based Stamco Timber has invested £300,000 in the opening of its first new branch in St Joseph’s Close, Hove – and another is set to follow in Eastbourne early next year.

Nicholas Wilde, company secretary at the timber and builder’s merchant, said Stamco had been looking for the right premises for “the best part of two years”.

The 11,000ft2 leasehold site has cost around £100,000 to acquire, with a further £200,000 spent on stock, mainly softwood timber, mouldings, sheet materials, fencing and carcassing.

A further £2m investment is being made in a freehold site at Eastbourne where another warehouse and trade counter will be built.

Mr Wilde said: “We plan to open that in spring 2005 and others could follow once we have these two bedded down.”

The company’s sales have grown by some 38% in the past three years – it achieved £12.1m turnover in the last financial year and is on target to break £13m this year.

&#8220We plan to open in Eastbourne in spring 2005 and other sites could follow once we have these two bedded down”

Nicholas Wilde, Stamco company secretary

Mr Wilde said: “Three years ago we invested very heavily in a £2.75m factory in Hastings which allowed us to separate the wholesale side of the business from our local delivery business and both have grown quite successfully.

“At the factory we machine timber profiles and mouldings and the business now covers the whole of south-east England.”

The new Hove branch has already resulted in 15 new jobs and this is expected to rise.

Stamco has been recognised for its support of the local community through the Community Mark scheme and last year won “Best Single Branch Independent Builders’ Merchant of the Year” in a competition organised by trade magazine “Builders Merchants News”.