Q&A with Philip Maclauchlan
Name: Philip MacLauchlan
Role: Sole Retained Agent for Toolstation & Managing Director of Adept Consultancy UK Limited
Who are Toolstation?
Toolstation is one of Britain's fastest growing suppliers of tools, accessories and building supplies to the trade, home improvers and self-builders.
How many units do Toolstation currently have?
We currently have in excess of 350 units trading or under development.
Yes, we have a target locations list covering England, Scotland and Wales which is available by signing up at the Adept website. The list is only indicative though and we will consider all towns/cities/suburbs with a direct catchment population of 30,000 or more and where not already represented. We can consider high profile stand-alone sites with good access or trade/DIY cluster locations. We are also now trading in retail / High Street positions in central London and will also consider this format in other locations outside of the Capital.
How many new units are you targeting?
We will open 40 more units this year then seek to expand the rate of openings further in 2019 and 2020.
A standard trade counter unit will be 3,800 - 5,500 sq ft. We also have a small format trade unit where we can open units with a ground floor area of as little as 2,800 sq ft if there is room for a two-tier racking system to be installed. For the high street / retail units we need 4,000 sq ft preferably on a single floor but will also consider split floor opportunities.
All formats require car parking, easy access, signage opportunities, good parking and unrestricted trading and delivery hours, prefer 6m+ eaves
B8 or A1 for our High Street / retail format units.
Freehold or Leasehold?
Leasehold but can consider freehold
Recent openings or new units in the pipeline?
Recent 2018 openings include: Burnley, Leeds, Barking, Southampton, Eastleigh, Dunfermline, Peckham, Shoreham, Telford, Leigh, Stirling, Didcot and Sunderland with 3 more due this month and 4 confirmed for May.
What are the main challenges you face when acquiring new property?
Working through the due diligence process and agreeing sensible legal documents with the Landlords in reasonable time.
Email - email@example.com
Tel - 07525732777