Boyes has acquired the former Pindar site in Scarborough to enhance its distribution network. The historic retailer is investing in a 5.58-acre plot to support growth and operational efficiency.
The acquisition aligns with Boyes’ expansion strategy, promoting improved logistics and storage capabilities for its 73 branches. This move reflects Boyes’ ongoing success and plans for future development.
Acquisition of the Former Pindar Site
Value retailer Boyes has successfully acquired the former Pindar printing site in Scarborough. This acquisition marks a significant step for the company as it expands its operations. The 132,163 square foot facility, located at Eastfield Industrial Estate, becomes the latest asset in Boyes’ portfolio after being vacated by the Pindar group, which entered administration in 2022.
The site on Thornburgh Road is set to be transformed into a distribution centre. This development is part of Boyes’ strategic move to enhance its logistics capabilities and complement existing warehouses on Havers Hill and Hopper Hill Road. As Boyes’ branch network continues to grow, the additional facility will provide necessary support to meet increased demand.
Impact on Local Employment
The move to establish a new distribution centre is expected to yield positive employment opportunities. New job creation is anticipated as a direct result of this development, providing a boost to the local economy and supporting community growth.
According to Paul Jenkins from Cedarwood, involved in past site management, the news represents a positive turn after the closure of Pindar. He expressed satisfaction that the site would contribute constructively to the community, underlining the benefits of retaining operations within Scarborough.
Financial Growth and Future Prospects
Boyes has reported impressive financial growth in the past year. The company’s turnover has increased to £101.7m from £93.8m, while operating profits have grown to £10.3m from £9.4m. This financial success provides a solid foundation for further expansion and investment into new ventures, such as the Scarborough distribution centre.
In addition to strengthening its logistics network, Boyes has been investing in new store locations. Recent openings in Sutton in Ashfield and Blackpool showcase the company’s commitment to expanding its retail footprint. These efforts align with Boyes’ long-term strategy to deliver sustained growth and enhance market presence.
Strategic Significance of the New Site
The addition of a third distribution centre in Scarborough addresses critical logistical challenges Boyes was facing. As stated by Andrew Boyes, chairman and joint managing director, existing facilities were under pressure due to increased stock volumes. The expansion will facilitate improved stocking capabilities and operational efficiency.
Strengthening Boyes’ infrastructure aligns with their strategic goals. The capacity to open more stores and ensure comprehensive product availability across all outlets underpins their objective to maintain customer satisfaction and continue their popularity in the market. This innovative move supports sustainable business growth.
Collaboration and Support from Stakeholders
The purchase and development of the Pindar site are backed by Leeds-based consultancy, GV&Co. Will Woodhall, a surveyor from the consultancy, highlighted the interest generated by the site from other investors. Despite the competition, Boyes emerged as the ideal successor, reflecting the retailer’s solid reputation and business acumen.
GV&Co’s involvement in facilitating the transition emphasizes the collaborative effort behind the successful acquisition. The deal is expected to contribute to local economic activities, revitalising a site that had been inactive, and reinforcing confidence among stakeholders and the community alike.
Efficiency and Operational Advancements
Investing in the new site provides Boyes with considerable additional storage capacity. This enhancement is expected to increase overall operational efficiency by ensuring that stock management and distribution processes are streamlined.
The strengthened logistics network will not only support Boyes’ existing branches, but also enable the potential opening of new outlets. By improving storage solutions, Boyes aims to optimise product availability across its retail chain, thus maintaining its customer-centric approach and expanding its service reach.
Conclusion
The strategic acquisition and development of the former Pindar site into a distribution centre underscore Boyes’ commitment to growth and operational excellence. With new jobs on the horizon and improved logistical capabilities, the move signifies a promising future for both the company and the local community. This expansion marks a positive trajectory for Boyes’ business ambitions and economic impact in Scarborough.
The transformation of the Pindar site into a distribution centre highlights Boyes’ strategic vision for expansion. With expected job creation and enhanced logistics, the retailer strengthens its operational framework.
Through this acquisition, Boyes demonstrates its commitment to supporting local economic growth while bolstering its market presence. The development marks a new chapter in Boyes’ regional impact.
