In what is thought to be the biggest warehouse deal in the East Anglian commercial property market for many years, Result Clothing has purchased the former Hawkin’s Bazaar distribution centre on the Beccles Business Park at Ellough. The main building on the 14.5-acre site extends to 227,500 sq ft, including mezzanine levels and some office space, and was purpose-built in 2007 as the national distribution hub for the Hawkin’s Bazaar chain of toy and novelty gift stores which went into administration 2011.
Result Clothing, which is based in Colchester, distributes outdoor clothing to corporate clothing providers and garment decorators throughout Europe. David Sanders-Smith, managing director and owner of Result Clothing, said: “The Beccles warehouse is a fantastic facility that will enable us to increase our capacity and has scope for possible future expansion.” James Allen of Roche Chartered Surveyors in Norwich, who handled the sale, added: “The availability of large, modern distribution centres in the region is limited because there are few companies that can take on buildings of this size. “It is extremely satisfying to have attracted Result Clothing to Suffolk in what is a very significant investment in the area”.
The property was sold by Chris Williams, the liquidator of Pedlar Properties Ltd from business rescue and insolvency specialist McTear Williams & Wood. It was put on the market in spring this year with a guide price of £2.75m. The purchase price has not been disclosed.
Roche Chartered Surveyors and BNP Paribas Real Estate were the joint selling agents, with the Norwich office of law firm Birketts acting for the vendor and Ellisons of Colchester acting for the purchaser. Hawkin’s Bazaar and the Tobar group, of which it was part, were bought out of administration through a management buy-out, backed by Primary Capital, and continue to trade, with a head office in Norwich.
6 December 2014