Sydney Tools to more than double retail footprint in expansion move

One of Australia’s largest industrial trade tools retailers, Sydney Tools, is seeking to lease 80,000 square metres of industrial retail space across the country in the next five years.

It is in the part of the the group's national expansion program of its bricks and mortar retail megastores.

"We are seeking to commit to leases of terms of up to 10 years," Sydney Tools Director Jason Bey said.

The privately owned company has grown its share of the trade tools market by stocking a range which now spans more than 11,000 stock-keeping units.

Established in 2001, Sydney Tools is an Australian family owned company and currently operating 31 stores along the eastern seaboard in NSW, ACT, Queensland and Victoria.

It plans to double its eastern seaboard footprint and expand into other states including Tasmania, South Australia and Western Australia.

The company holds a footprint of approximately 60,000 square metres across the 31 current stores. 

Bey said more than 94% of revenue was generated through their bricks and mortar retail outlets.

Spending on major infrastructure projects particularly in NSW, Victoria and Queensland is driving ongoing demand for capital equipment, accessories and hand tools, Bey said.