In a move bucking the trend that has seen shopping shift from bricks and mortar to the internet, Oak Furniture Land has leased a 24,000 sq ft unit at Phoenix Way, Lakeside, Swansea Enterprise Park, where it has opened its 45th store in the UK since first embarking as an eBay retailer in 2004. It is the company’s second store in Wales – with the other situated in Cardiff – and employs around seven new staff. Cooke & Arkwright acted on behalf of the landlord, Eddershaws in the deal.
Steve Kettell, Property Director at Oak Furniture Land, said they had originally been looking at another site in Swansea. “However we inspected this area and the unit is in an attractive and prominent position,” he said. “We believe it is the right location for us to service the South West Wales market, especially as the store was already known as a quality furniture retailer.”
Nick Golunski, Associate Director with Cooke & Arkwright’s Retail Agency said that they were delighted to have found a new tenant for the unit so promptly. “Our client, Eddershaws, has consolidated its presence in Cardiff and made the decision to let its premises in Swansea.” Mr Golunski added that a rear warehouse of just under 6,000 sq ft was also available by separate negotiation. “The accommodation is to the rear of the building and would be ideal for a complimentary retailer or for trade counter use. It would benefit from the high footfall generated by Oak Furniture Land,” he said.
Oak Furniture Land was founded by Jason Bannister through the online auction site eBay in 2004. Two years later he set up his own website, eventually opening his first bricks and mortar showroom in 2009. Within a few weeks it was turning over £5m a year in addition to the website. Oak Furniture Land is now one of the UK’s largest retailers of solid hardwood furniture, making around 65% of its revenue from stores around the UK and employing more than 500 staff. Its 300,0000 sq ft Distribution Centre currently processes approximately 400,000 orders a year.