Burnt Tree is investing more than £3million and creating five new jobs in a new branch in Leeds.

The new depot increases Burnt Tree’s network to 17 branches and follows openings in Wigan and East London earlier this year.

The company confirmed that the investment was not financed through borrowings.

Gareth Jones, sales and operations director said: “Demand for vehicles in the north and particularly around the urban centres of Yorkshire and Greater Manchester continues to increase, so it makes perfect sense to open a new branch in Leeds on of the fastest growing cities in Europe.”

Burnt Tree currently runs more than 8,000 vehicles and has one of the newest portfolios in the rental sector.

It has invested heavily in fleet renewal and expansion in the last two years spending more than £135m to date.

Commenting on the company’s expansion targets, Mr Jones told Fleet News that they are being achieved despite the uncertain economic climate, and that the Burnt Tree remains in confident mood.

“Our plans are to open two branches a year – we have done this in 2008 with the opening of Leeds and our first branch in London (as well as the relocation of Haydock to Wigan) so don’t have any immediate plans for further branches this year,” he said.

“We plan to continue the expansion plan outlined above, obviously we would need to look at market place at the time but if this and the location of a proposed branch was right we would still look on it very favourably.”