Rapid growth sees tool hire firm’s expansion
Avison Young has secured a new industrial unit for Smiths Equipment Hire, as the growing firm further expands its Yorkshire presence.
Holder & Co brought the 10,043 sq ft Willowbridge Way unit in Castleford to the market, with Avison Young securing it on a leasehold basis for the trade and DIY tool hire business.
After successfully operating in the north west for over 50 years, Smiths Hire, first expanded into Yorkshire in 2017, acquiring a c.6,600 sq ft unit in Leeds where the firm experienced a significant increase in demand. Now the business needs additional warehouse space to meet consumer needs, with the Castleford unit creating 10 new jobs for the area.
The warehouse at Willowbridge Way is in a highly sought-after location, with a number of neighbouring commercial occupiers on the same terrace, situated in the south west of Castleford town centre, with easy access to the M62 motorway.
Jake Pygall, associate director within Avison Young’s Leeds office, said: “The industrial sector remained resilient over the past year, with strategically placed, high-quality industrial units in high demand, and we’ve seen that play out here with Smith Hire’s letting at Willowbridge Way.
“We initially secured the firm’s first Yorkshire base at Overland Park in Leeds just four years ago, and it’s fantastic to have once again helped to facilitate the company’s growth across the region, in such a short period of time.”
Joint managing directors, David and Thomas Smith, said: “We are really fortunate to be in a position to take a lease on a new unit and expand our business further into the Yorkshire region. We outgrew our initial Leeds property, and we’re really looking forward to seeing what Castleford will bring to the business. With the addition of Castleford, this takes our depot network to 15 and over 170 staff.
“With the increase of DIY and home improvement market driven via our online activity and website throughout lockdowns, the demand in tool hire has increased rapidly, with people looking to rent their tools, rather than buy, use once and put in the shed. With this significant increase in demand, the additional space will allow us to display more of the larger trade machines like cherry pickers, diggers and dumpers and provide a tool hire service to the smaller tradesperson and DIY community.
Phil Caspell from Holder & Co, who acted for the landlord added: “It is great to see the premises being let so quickly after a comprehensive refurbishment was undertaken by the landlord. This justifies their investment in the unit and further demonstrates the strong demand across the region for modern, well located properties.”
The property at Willowbridge Way comprises of a large yard and loading area, two ground level loading doors and a large, dedicated yard to the front elevation. Internally, the unit has an additional office and trade counter with a height of 5.8m to eaves, providing plenty of room for an increase in stock.