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Fergusons sells its HQ to fund investment in 60 new trailers
Page 16
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A property sale is being used to fund a fleet expansion by a major
Noah-East haulier. Guy Sheppard reports.
NORTHUMBERLAND warehousing and transport operator Fergusons (Blyth) is poised to sell its head office to fund the purchase of new trailers and reinvestment elsewhere in the business.
The site on an industrial estate in Blyth is valued at more than Dm and includes property leased to other businesses.
Owner Alan Ferguson says the buildings used by his company will be leased back from the buyer,.
"As far as we're concerned, it's a highly profitable deal." he explains. "We've owned the property for three decades and only occupy about 20% of it." Some of the proceeds from the sale, which is likely to go through within the next two months, will be invested in a new storage facility near Myth.
"It also enables us to invest in some new trailers." Ferguson reports. "We're taking 30 in the next couple of weeks and are about to order another 30 in the next two to three months" Fergusons' transport operation, based in Sunderland, has a fleet of 1(X) artics and 250 trailers Last year the firm lost a longstanding contract with British Gypsum to logistics giant DHL (C/14 3 November).