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East Anglia Future 50

£10million investment in depot to create 130 jobs

PUBLISHED: 07:30 04 July 2019

Simon Reed, founder and managing director of Simarco. Picture: SIMARCO

Simon Reed, founder and managing director of Simarco. Picture: SIMARCO

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Essex-based UK logistics firm Simarco is investing in a new £10million distribution centre for the north of England.

Simarco Worldwide has taken out a 10-year lease on a 108,000 sq ft depot at Stoke to serve the north, Manchester and the Midlands.

The Stoke centre will bring the firm's total workforce up to 450 people, including 175 at three sites across Witham.

Earlier this year the firm secured a 10-year extension of its lease for its Witham headquarters, and said it was on track for another double digit increase in turnover this financial year.

Co-founder and chief executive, Simon Reed, has described the initiative as "a natural response" to a continuing rise in freight volumes handled by the firm.

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He said the depot will complement Simarco's eight other UK sites.

"This development is a major undertaking on our part but entirely necessary given both our expansion plans and the amount of freight traffic which we are dealing with," he added.

"Despite the ongoing uncertainty about what impact Brexit will have on imports and exports, we're very confident that the improvements which we have made to services and infrastructure mean that we can expect further growth.

"We expect that our new depot will play a significant part in supporting that process and that's one reason why we'll be investing at least £10 million there over the current, full term of the lease.

"It is an ideal location - a real vindication of our business strategy - and will provide clients with even greater reassurance about our ability to deliver on their behalf."

He continued: "This is a tremendously exciting time for Simarco - one which has great challenges and significant opportunities.

"I am confident that the work which we have already undertaken and the potential of our new Stoke depot means that we are in the best possible shape to capitalise on them."

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