International brand wholesaler and distributor Pricecheck has secured a five-year lease renewal for its 113,839 sq ft head office and distribution centre in Beighton, near Sheffield, with legal guidance from Leeds-based law firm Gordons.
The family-run business, which initially moved into the premises on Old Colliery Way in 2016, distributes over 8,000 fast-moving consumer goods (FMCG) products to more than 100 countries. Pricecheck recorded a record turnover of £151 million last year and has ambitious plans to expand to £200 million.
Gordons’ commercial property partner, Sarah Ratcliffe, and head of property disputes, Paul Joyce, led the legal negotiations, ensuring the lease renewal was successfully concluded despite the complexities involved. The negotiations required coordination between three parties, including a previous tenant from whom Pricecheck had been subletting the property.
Commenting on the lease renewal, Pricecheck’s joint managing director, Mark Lythe, said: “This lease renewal was far from straightforward, with three parties involved. The team at Gordons helped us navigate various issues and bring the matter to a successful conclusion within the required timeframe.”
Pricecheck has delivered 10 consecutive years of revenue growth, with a recent 16 per cent increase in turnover on the previous financial year.
Sarah Ratcliffe of Gordons highlighted the importance of securing the lease for Pricecheck’s continued expansion. “Pricecheck is a fast-growing business with significant ambitions, so it was essential for us to secure a new lease on the facilities to enable the company to further deliver its strategic growth plans. We had to work at pace within short timeframes to conclude negotiations with the landlord, and we are very pleased with the positive outcome. We look forward to seeing Pricecheck continue its expansion both nationally and internationally.”
Gordons, which employs 170 people at its Leeds headquarters, represents a range of high-profile clients, including AO, Iceland Foods, Morrisons, Ocado Retail, Wren Kitchens, drinks company Molson Coors, and parcel delivery business Evri.
Image provided by Gordons
Josie Geistfeld
Josie Geistfeld is Editor of Yorkshire Legal News. She welcomes comments and questions.