Online kitchen and appliance supplier, Andrew James, has kept pace with a tripling of its turnover in as many years by spending almost £1m on a new County Durham head office.
The fast-growing retailer has acquired Lighthouse View, a 73,418 sq ft, four-storey office building at Spectrum Business Park in Seaham, County Durham, where it will base its headquarters staff and expand its customer service and business support departments.
Brokered by Newcastle-based Naylors Chartered Surveyors, the deal follows the consultants’ acquisition of a 125,000 sq ft warehouse unit for Andrew James last year at the nearby Foxcover Industrial Estate. The new combined 200,000 sq ft office and distribution hub more than doubles the size of its former premises at Bowburn.
Simon Taylor is head of office agency at Naylors. “We worked closely with Andrew James to identify a number of potentially suitable office buildings to accommodate their expanding business,” he explained.
“Lighthouse View stood out as the best option due to its close proximity to their existing warehouse, which is within walking distance, and also through its potential for accommodating future business growth.” The deal took just eight weeks, from the initial instruction to acquisition.
With a turnover topping £17.4m, Andrew James intends to expand its 90-strong workforce by around 25 per cent when the move to its new offices is complete.
“We are very excited for the future, and we have ambitious plans to put into place,” said Andrew Tomlinson, a director with the internet trader. “With the assistance of Naylors we feel that we have secured the head office and distribution facilities that will enable us to accelerate and successfully implement these plans in the years ahead.”
Tony Wordsworth, of GVA, acted for Lighthouse View’s un-named seller. “This sale is fantastic news for the area and demonstrates that demand for offices in the East Durham area is improving,” he said. “We are seeing office take-up increase across the region which in turn is leading to a growth in capital values and improving rental terms for property owners.”
Last year Naylors — the largest independent firm of property consultants in the North-East — also achieved East Durham’s biggest office let in more than a decade when clothing manufacturer, the AMA Group, signed a 10-year lease on a 46,000sq ft office building at Whitehouse Business Park, near Peterlee.
Story: Cliff Goodwin
Photo: Bigstock
