Davos secures 100,000 sq ft Speke pre-let

Protein Works will consolidate its operations within a recently completed industrial unit off Speke Boulevard to pave the way for its plans to “scale aggressively”.

The 100,000 sq ft Speke deal will see the high-protein food and shake maker exit five sites across the North West as it embarks on a mission to grow its annual revenues beyond £100m and double production output.

Protein Works will relocate to Speke 100, developed by Davos Property Developments and built by Barnfield Construction, next May. The building has been renamed the P.Works Campus and will feature research facilities and a logistics hub to scale up distribution.

“Our growth in recent years has been a testament to our team, and being based in the North West is a key part of Protein Works’ DNA,” said Laura Keir, Protein Works chief executive.

“We felt it was important to have that continuity, whilst also driving the business forward. The new location allows us to do all that. When you’re a fully integrated enterprise that combines product development, food manufacturing, marketing and technology into one business, it’s important that different parts of the business can collaborate at pace. Being together on one campus creates those synergies.”

Kyle Crowley, the firm’s director of product strategy and Innovation, said the move to Speke would help Protein Works “scale aggressively”.

B8RE advised on the deal. Jon Thorne, director at B8RE, said it highlights Speke’s attractiveness to investors.

“Securing this pre-let to a high-calibre occupier during the construction phase underlines the strength of the offer at Speke 100 both in terms of location, size and quality of the build,” he said.

“Despite the challenging economic conditions, it’s very encouraging to see businesses like The Protein Works expand, creating significant opportunities and reinforcing Speke’s reputation as a hub for industrial innovation.”

Protein Works is backed by YFM Equity Partners.

David Bell, YFM’s head of portfolio, said: “This is an exciting investment for a brand making huge strides in its industry.

“Protein Works’ team has taken the business from strength to strength in our five years with them, growing revenues close to £50m and doubling its EBITDA year-on-year.

“That type of performance has allowed the business to self-fund this move and secure its future in the exciting and growing market of functional foods.”

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