LSE Retail Group takes 80,000 sq ft in Eccles
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ONLINE lighting retailer LSE Retail Group has taken an 80,000 sq ft distribution base in Eccles.
The business, which is currently based at a 20,000 sq ft warehouse in Collier Street, central Salford, is making the move as it seeks to increase turnover from £12m this year to £30m by 2016.
It has agreed a five-year lease at Lyntown Trading Estate, off Liverpool Road, which is owned by Coal Pension Properties.
LSE’s founder David Gutfreund said: “It’s a high bay, narrow aisle distribution centre with showrooms. There’s been a £500,000 investment, partly from us and also the landlord, to bring life back into the building which has been empty for two years.
“It will allow us to expand to 85 staff, adding another 50, by 2016.”
Mr Gutfreund, who founded the business in 2010, said LSE would only occupy 50% of the new site this yuear, but it will support a £30m turnover business.
LSE sells its products on a mixture of in-house, third party and market place websites, such as Amazon and Ebay. Its online brands are Value Lights and Iconic Lights.
Knight Frank advised Jones Lang Salle, the fund manager for Coal Pensions Properties, while LSE was advised by GVA.