The Hut starts HQ and warehouse search
ONLINE retail group The Hut is looking to construct a new headquarters building and a central warehouse.
The Cheshire group, which has grown rapidly following a series of acquisitions, is understood to have started the search for potential locations for a 50,000 sq ft office and a 500,000 sq ft warehouse. Both would be delivered on a design and build basis.
It has hired Manchester-based P3 Property Consultants to lead the search.
P3 declined to comment, but The Hut has made no secret of its desire to expand beyond its current headquarters base at Gadbrook Park near Northwich.
In November it met with Chester West and Chester Council leader Mike Jones and regeneration officials to ask what the local authority could do to help support its projected growth.
The group currently has two warehouses at Stretton near Warrington which are on short leases ahead of a planned move to a purpose-built site in 2016.
Last month The Hut, which is focused primarily on the lifestyle and health and beauty sectors, said earnings before interest, tax, depreciation and amortisation (EBITDA) rocketed 130% to £10.1m in 2012 from £4.4m in the previous year.
Sales rose 30.4% to £145.3m in the 12 months to December 31. The Hut’s own brands such as MyProtein and Lookfantastic accounted for 35% of sales, while 36% of sales were to international customers.
The group, which employs around 700 people in the region, said margins had also increased during the year. At the bottom-line the company reported a £300,000 profit compared with a £12.7m loss in 2011.
No one at the company could be reached for comment.
