Family owned and run business H T Maddocks & Son Ltd have continued their impressive recent growth plans by doubling their HQ and warehouse facilities within Cardiff. The company, who were established in 1957 and are the UK distributor of parts for domestic appliances for the Europart Group, have signed a new 10 year lease on a detached 43,000 sq ft property on Capital Business Park which was recently acquired by Rombourne Limited.
Following a period of fitting out they are expected to take occupation of their new facility early in 2017 and relocate their 40 staff after vacating their two existing warehouses at Eastgate Park.
Eddie Hutchinson, Financial Director at Maddocks comments “We are constantly looking at ways to improve and evolve the business. We identified earlier this year a need to consider larger premises but were mindful of our existing lease arrangements at Eastgate. We are grateful that our new landlords (Rombourne) were able to structure the deal of the new facility which took our needs into consideration. Their foresight has provided us with an opportunity to move earlier than expected without too much disruption to the business. We are excited about the next chapter in the growth of this family business.”
Damian Stokes, Chief Executive of Rombourne, said: “Having speculatively purchased the property earlier this year it was our original intention to sub divide to provide smaller workshop units. However before marketing had formerly commenced we had entered discussions with Maddocks who had been introduced to us by our retained agents Knight Frank & DLP Surveyors. We are pleased to add them to our growing portfolio of industrial tenants throughout the region.”
Neil Francis, partner in the industrial agency team, of Knight Frank in Cardiff, comments: “This is one of the largest industrial lettings witnessed in Cardiff in recent years. It provides further evidence that with a lack of good quality stock within the market there are tenants willing to commit long term to such quality space and work with their new landlord to ensure terms secured benefit both parties.”
Michael Bruce of DLP Surveyors adds: “This letting provides further justification for Rombourne’s speculative purchase of Block E Capital Business Park earlier in the year. Rombourne were eager to increase their industrial portfolio in Cardiff and were willing to acquire this empty building at a time when others were too hesitant. Their opportunism has now been rewarded by securing a good tenant on a long term basis. We are now actively searching for other similar opportunities within the region for them to acquire.”