BDC Magazine - Yesss Electrical - September May 2014

THE MAGAZINE FOR THE CONSTRUCTION INDUSTRY

BUILDING DESIGN &

CONSTRUCTION MAY 2014 ISSUE 197

MAY 2014

ISSUE 197

ROYAL BIRKDALE GOLF CLUB

THE 19TH HOLE BUILDING DESIGN & CONSTRUCTION

PLUS

PAGES 14-15

KEMSLEY LLP

ONE-STOP PROPERTY MANAGEMENT

ENVOY PROPERTY MANAGEMENT MANAGE A WIDE SPECTRUM OF PROPERTIES IN THE SOUTH WEST PAGES 38-39

WE TALK TO TOM KINLOCH PROPERTY AND ASSET MANAGEMENT DIRECTOR AT KEMSLEY LLP PAGES 32-37

KNIGHT FRANK

LOCAL KNOWLEDGE, GLOBAL OUTLOOK PAGES 24-31

YESSSSSS Electrical:feature 2 23/03/2014 13:39 Page 90

ELECTRICAL DISTRIBUTORS: YESSS ELECTRICAL

s the UK economy continues to bounce back, electrical wholesale business Yesss Electrical can proudly acknowledge its contribution to the upturn. Last year it created 500 new jobs and delivered annual sales of over £80m in its first year of trading.

The company, which moved into its new headquarters in West Yorkshire in 2012, has had support from a £12m invoice finance facility from Lloyds TSB Commercial Finance to help its growth plans.

Part of the wider Yesss Group, which has 450 stores across Europe employing more than 3,000 people, has plans to grow its network of branches in the UK substantially, ultimately with a view to creating 2,500 jobs nationally across 300 stores.

Andy Singleton, director and general manager for Yesss distribution Europe, said, “We have ambitious plans to grow the business and we plan to build on a successful first year by opening new stores across the UK over the next few years.

"The funding from Lloyds Banking Group has been key because it has meant the volume of sales has not impacted our expansion strategy or affected cashflow.”

Business development director at Lloyds TSB Commercial Finance, Peter Rothery, said that the funding is a "great example" of how invoice finance can release working capital to support rapid expansion plans like these.

Relationship director at Lloyds Bank Commercial Banking, Andy Dunlop, said: “Yesss is a great example of a UK mid-market business that is generating new jobs and growth in what has been a challenging economic climate. Businesses such as this are fundamental contributors in our continuing economic recovery and Lloyds Bank is committed to working with them to provide the backing they need to drive growth and development.”

Yesss has taken a 10-year FRI lease of property group Valad’s 64,904 sq ft warehouse in Normanton fronting the M62 motorway at a head-

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TO A GREAT SERVICE YESSS GIVE YOU ACCESS TO OVER 700,000 ELECTRICAL PRODUCTS & OVER 10,000 FOR BOTH SAME & NEXT DAY DELIVERY

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ELECTRICAL DISTRIBUTORS: YESSS ELECTRICAL

line rent equating to £4.35 per sq ft per annum.

Industrial agency specialists, Gent Visick, acted jointly with Jones Lang LaSalle on behalf of Valad’s Equity Partnerships Osprey Fund while Yesss were advised by O Holt.

Yesss said its new headquarters will provide an "excellent base" for its UK operations.

Helen Macrow of Valad said: “We were delighted to agree terms for the letting of this prominent unit to Yesss and it is a significant win for Wakefield in securing the headquarters of this exciting new venture.”

The Yesss Group has been owned for over 38 years by the same family and continues to grow in Europe having opened over 90 branches in the last year. All of its superb new branches have thousands of essential products in stock, first class service levels customers expect and all the technical solutions people need.

Proudly, the business is creating a new industry standard and wants to be a customer’s favourite supplier, ultimately striving to enable them to increase their business performance by having the best teams to offer the latest solutions to enable the

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YESSSSSS Electrical:feature 2 08/04/2014 12:32 Page 92

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YESSS’ SUCCESS IN THE UK IS QUITE PHENOMENAL. NOUGHT TO 80 STORES IN JUST 12 MONTHS HIGHLIGHTS INCREDIBLE GROWTH

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supply of the right stock and delivering exceptional service.

Indeed, its success in the UK is quite phenomenal. Nought to 80 stores in just 12 months highlights incredible growth. Recent branch openings include stores at Stafford, Trafford Park and Selby which opened in November 2013 with a branch in Blackpool opening one month later.

Hull was one of Yesss’ earliest outlets to open in the UK bringing significant benefits to the area. Dave Garness, managing director of Hull-based property company Garness Jones, said at the time the decision by Yesss Electrical to launch its new project in Hull was a sign of growing confidence in the area.

Dave said, “We've seen an increase in enquiries for trade counter businesses recently, particularly in this area of Hull, which is popular for

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trade and retail outlets. Yesss Electrical is a new business and this outlet will be one of the first to be opened in the UK. This is an important deal creating jobs locally and it will be of growing significance nationally as the company rolls out its expansion programme."

His comments were echoed by Mark Nolan, York regional manager for Yesss Electrical, who said the investment is already bringing advantages for the local economy. The Hull business employed eight people initially.

Mark said: “We are part of a company that has 450 branches throughout Europe and we are now coming to the UK and aiming to open 300 branches in the next ten years. It is a massive investment that could be worth up to £90m overall. It will create a lot of jobs, starting with eight

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YESSSSSS Electrical:feature 2 26/03/2014 15:46 Page 93

ELECTRICAL DISTRIBUTORS: YESSS ELECTRICAL

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YESSSSSS Electrical:feature 2 23/03/2014 13:41 Page 94

ELECTRICAL DISTRIBUTORS: YESSS ELECTRICAL

in Hull, and wherever possible, we will use local tradesmen when fitting out our premises.”

Dave added, “We are looking for high-quality staff because the business is about modern technology and good, old-fashioned customer service.”

A big part of Yesss’ success has been due to its ability to back up customer service with the right solutions for a variety of needs. That means innovation and the company is always on the look out for new ideas that can help customers.

Last year it began a new partnership with 4Eco that saw 4Eco’s market leading eco gadget – the immerSUN – installed into thousands of properties nationwide.

Developed for both commercial and domestic installations, the immerSUN is a surplus microgen energy controller. Already fitted into more than 6,000 properties across the UK, 4Eco says the energy controller will reduce an average energy bill by around £250 per year by diverting electricity generated by PV panels directly to an immersion heater, storage heater, and/or electric underfloor heating.

“We’re delighted to announce our new partnership with Yesss Electrical,” said Jodi Huggett, director at 4Eco. “As one of Europe’s largest electrical wholesalers, we’re sure that working together with Yesss will help to increase the uptake of green technologies nationwide – driving forward the future of sustainability.

“With branches across the UK, France, Germany, Italy and the Netherlands, we hope that in the future we can distribute the immerSUN internationally, helping more and more homeowners to reduce utility bills and protect the environment.”

Yesss Electrical’s Neil Birdsall said: “We’re really excited to be working with 4Eco. After hearing about the immerSUN and meeting the team, we knew immediately that the product was a brilliant progression in the sustainability sector.

“Here at Yesss, we’re committed to providing customers with the latest eco technologies and sustainable solutions, so partnering with 4Eco was an easy decision for us.” www.yesss.co.uk Tel: 01322 615665

A BIG PART OF YESSS’ SUCCESS HAS BEEN DUE TO ITS ABILITY TO BACK UP CUSTOMER SERVICE WITH THE RIGHT SOLUTIONS FOR A VARIETY OF NEEDS

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