Online fashion retailer Boohoo, advised by Aherne Property Consultants, has paid £1.7m for a 113,000 sq ft warehouse at 3 Widow Hill Road in Burnley to expand its existing base next door.
The property was acquired in an off-market deal and Boohoo will start fitting out in the new year. Boohoo has already spent £14m expanding its original base next door. The first Boohoo building was 160,000 sq ft. The firm extended this by 100,000 sq ft and added mezzanine floors taking the original site to 300,000 sq ft in total.
The latest warehouse on Heasandford Industrial Estate was acquired from Ultra Finishings.
Tony Burley, logistics director of Boohoo, said: “This additional property will be used for handling inbound merchandise, returns and as a new customer service headquarters. Initially circa 275 people will be employed from the new site supporting our expansion strategy. Boohoo currently employs circa 1,500 people and is looking to grow to 2,500 over the next five years. At a purchase price of £1.7m this represents an efficient investment for us in this location.”
Andrew Aherne of Aherne Property Consultants added: “When we became aware of the potential availability of this property Boohoo moved quickly to secure it to consolidate its base on Heasandford Industrial Estate. In a climate of limited supply of decent quality industrial and distribution accommodation, this acquisition represents excellent value for Boohoo.”
Mark Clarkson of Eckerleys acted for the vendor Ultra Finishings.