AVON: Toolstation has opened the doors of its trade counter unit at IM Properties’ new Longwell Green Gallagher Trade Park in Bristol.
Situated on Aldermoor Way, Toolstation’s new 4000sq ft unit has created seven jobs and is open for business.
IM Properties began speculatively building the trade counter scheme in March this year and both Toolstation and Halfords Autocent re-signed pre-let agreements for 4000sq ft units the following month.
Barnwood Construction completed the scheme in September. Adam Keates, commercial resources director at Toolstation said: “We are very pleased with our new unit at IM Properties’ Longwell Green Gallagher Trade Park. Joining the thriving Whiteladies Road and Ashton Gate sites, this latest branch is well positioned to serve the eastern outskirts and adjoining towns. It is conveniently and prominently situated on Aldermoor Way near to other trade outlets.”
Longwell Green Gallagher Trade Park is located adjacent to Longwell Green Retail Park and is surrounded by some of the best known names in retail including Homebase, B&Q, Marks & Spencer, Next and Boots.
It is located off the A4174 Avon Ring Road, providing access to Junction 1 of the M32 and Junction 19 of the M4 and is just five miles from Bristol City Centre.
Five trade counter units ranging in size from 2920sq ft to 14 350sq ft remain available at the IM Properties’ scheme and discussions are under way with potential occupants.
In addition, the developer has planning permission for an 18 000sq ft self-storage unit. Lewis Payne, development managerat IM Properties, said: “We are pleased Toolstation has recognised the excellent location and profile of our Longwell Green Gallagher Trade Park and that jobs have been created for local people. We expect a total of 70 jobs to be generated once the scheme is fully let.”
Chris Miles of joint agents Jones Lang Lasalle added: “The speculative start to the trade park was a response to the lack of supply of new or good quality space across Bristol. Negotiations are under way with a number of interested occupiers and we expect to announce further lettings on the scheme shortly.”
Each of the available units benefits from a double height glazed feature entrance, 7.2m minimum clear internal height, 37.5kN/m2 floor loading, overhead sectional loading door and substantial signage panels.
Toolstation confirmed positive projections with the release of its 2011 accounts this month. The company grew turnover by nearly 50%, from £70m to £104m, and reported operating profit of £1.7m, £5.2m up from the deficit of the previous year.
The Bridgwater, Somerset-based company, which began with a single branch in 2003, now has over 115 sales counters across the UK and continues to open new branches every month, as well as expanding its online ordering system.
Managing director Neil Carroll said the results were in line with the company’s business plan. “During the last two years,we have been undertaking a solid expansion programme across the country which is now yielding excellent results,” he said.
“All our branches are designed to carry a comprehensive stock of over 10 000 catalogue products at low trade prices and are open to everyone. All items are also available online with free next day delivery on orders over £10."
At the beginning of the year, Travis Perkins completed its planned acquisition of Toolstation and Mr Carroll stated that involvement with the TP Group had enabled the company to access the additional support required to continue its planned strategy of expansion and growth.
“By being able to fully develop our retail warehousing and distribution facility in Redditch, Worcestershire, and to open sales counters without delay in identified key locations, Toolstation is well positioned to take advantage of opportunities within the market,” he said.
