Online bathroom retailer Victorian Plumbing to open new 544,000 sq ft distribution centre at a cost of £50m. Tony McDonough reports
Victorian Plumbing has signed a 20-year lease on a new 544,000 sq ft distribution hub close to its current headquarters in Lancashire.
Launched more than 20 years ago from a garden shed in Merseyside, Victorian Plumbing is now based in Skelmersdale and is listed on the stock exchange. In Early December it reported annual revenues of almost £270m and pre-tax profits of £11.8m.
On Tuesday the online bathroom retailer announced it had signed a £50m lease on the distribution centre which is scheduled for completion in August 2023. It will become fully operational after a period of dual running with existing sites to ensure a smooth transition.
This will enable consolidation of a number of the group’s existing sites. However, some existing facilities will be retained to enable further adjacent category expansion.
Victorian Plumbing will invest in fitting out the new distribution centre through the current and next financial year. This will provide further operational capacity to support its growth.
Mark Radcliffe, founder and chief executive of Victorian Plumbing, said: “This new facility represents another exciting milestone for the business.
“It provides us with capacity to manage growth in the long-term while further establishing Victorian Plumbing’s position as the No 1 bathroom retailer in the UK. I am also delighted that this new facility will create additional jobs.”
The firm has yet to specify how many new jobs will be created. It currently employs more than 550 people and also has bases in Manchester and Birmingham.
Its most recent profit figure, for the year to September 30, 2022, was significantly down on the previous year. However, Victorian Plumbing says sales picked up in the second half of the fiscal year and were 10% up in the first few weeks of the currency financial year.