Bathroom and kitchen company sinks money in acquisition of site

A CWMBRAN online bathroom and kitchen retailer is set to triple its turnover after buying its own premises.

Plumbtap, supported by £680,000 funding from Lloyds Bank Commercial Banking, purchased its 50,000 sq ft site on Avondale Business Park.

The company believes the investment will enable it to streamline its processes, including consolidating its four warehouses into one space, saving £50,000 on overheads.

The firm says the increased space will also allow it to boost its capacity to meet rising consumer demand. As a result, it expects to achieve a turnover of £15m and double its workforce within the next five years.

Founded in 2011 by David Nash, Plumbtap sells kitchen and bathroom supplies and accessories via its online site. In the past seven years the company has grown significantly, achieving a turnover of £5m and employing 25 people.

Mr Nash said: “Buying the new site will help us to transform our business model, enabling us to make the vital efficiencies needed to drive growth over the coming years.

“Recently we’ve seen an increase in the number of people choosing to refurbish their homes rather than move. We recognised we needed to streamline our processes to ensure that we’re taking advantage of this trend, while continuing to offer the best possible service to our customers.

“Although we’ve been based at this site for four years, taking the steps needed to buy the premises was quite challenging, and we relied on the support of the Lloyds Bank team throughout. Not only did they supply the tailored funding needed to purchase the site, but they were always on hand to provide guidance when an issue arose.”

Chris Ryan, relationship manager at Lloyds Bank Commercial Banking, said: “Plumbtap is renowned for providing a high-quality and efficient service to customers across the country.

“Buying the site will enable the company to build on this reputation, as well as allowing the firm to capitalise on the opportunities offered by the rising number of consumers who are choosing to renovate their homes.”