On behalf of the trade counter brand, Screwfix
, Colliers International has completed the acquisition of the company’s 353rd branch
with a 3,545 sq ft
unit on Morgan Drive, Guisborough.
The Morgan Drive unit is one of the latest additions to Screwfix’s store portfolio and part of the brand’s UK trade counter expansion strategy; the acquisition plan amounts to hundreds of thousands of square feet of retail space across the region.
Colliers has been instructed to acquire existing or new build properties, between 3,500 to 11,000 sq ft
, on thriving industrial estates and trade parks across Yorkshire and the North East. This month alone Colliers has acquired new Screwfix stores which recently opened in Hull, Scarborough and Sunderland, with a number of further units scheduled to open towards the end of the year.
, Associate Director of Industrial and Logistics, Colliers International said: “We are pleased to have been appointed by Screwfix to advise on its store acquisition programme, the brand’s strong covenant and increasing footfall levels make it a very desirable tenant for industrial estate landlords.
“The new store in Guisborough is a great location for Screwfix, it’s situated in a busy area with high traffic flows, close to the Sainsbury’s supermarket, and we therefore expect this store to preform very well for them.”
John Embleton, Property Site Searcher, Screwfix said: “Screwfix is looking to expand its store portfolio across Yorkshire and the North East; it’s an exciting time for the brand, this rapid roll out of new stores is part of our UK growth strategy. Unlike many retailers, we are investing heavily in physical stores and maximising the benefits to consumers of Click and Collect, by aiming to bring more than 90 per cent of the population within 30 minutes of a Screwfix store.”