Friday, September 18, 2015

News: Naylor snaps up Maplin warehouse

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Rotherham-based electronics retailer, Maplin, has sold its former warehouse to Naylor Industries, a Barnsley-based building supplies company.

Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 218 stores.

Naylor is a fourth generation family business that has manufactured pipes in clay and latterly in plastic since its formation in 1890. It has operations in South Yorkshire, Scotland and the West Midlands. In 2013 it acquired Wath-based Amco, a high volume manufacturer of ventilation ducting and plastic tubing. Turnover increased from £42.3m to £46.6m in 2014/15; growth of 10%.

In a deal brokered by Lambert Smith Hampton (LSH), Naylor has acquired the freehold of the 57,000 sq ft building in Wombwell for an undisclosed sum from Maplin, which had previously used it as a distribution centre.

Naylor has successfully applied for a change of use of the building from B8 distribution to B2 general industrial with a view to manufacturing on the site. Plans are being put in place to move Amco onto the larger site in Wombwell, integrating it into the specialist plastics division.

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Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. Montagu Private Equity sold the company to Rutland Partners for £85m in 2014. The latest yearly sales figure climbed 6.3% to £237m and marks six consecutive quarters of positive growth.

In 2008 Maplin moved to a 220,000 sq ft state of the art distribution centre and head office at Brookfields Park in Rotherham.

Tom Burlaga, agency surveyor at LSH in Sheffield, said: "This building was previously owned by Maplins but has been vacant for a number of years after it was deemed surplus to requirements so we are delighted to have concluded a deal with Naylor less than a year after being instructed on the property.

"Naylor is a well know company in the region and this acquisition will allow it to continue to expand while keeping the core of its operations in South Yorkshire near to its head office in Barnsley.

"The site will also bring new jobs to Wombwell, which is great news for the local economy and the ideal scenario for the previous owners Maplin which continues to have a strong association with the area."

The deal also a reflection of a strong industrial market in South Yorkshire which has seen LSH's Sheffield office involved in deals totalling more than 250,000 sq ft already this year with another 100,000 sq ft under offer.

Tom added: "This is our strongest first half year for a number of years and reflects a steadily improving economy in the region with businesses of all sizes looking for accommodation in the region, either for distribution or general manufacturing."

Maplin website
Naylor Industries website
LSH website

Images: LSH

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