The company behind North East shipping container company STACK says it is optimistic for the future having invested £25m into a number of leisure destinations to date.
The original stack was created in 2018 when 60 shipping containers were pieced together on the former Odeon Cinema plot in Newcastle, becoming the brand’s first drinking, dining and live entertainment destination. While the inaugural STACK has been dismantled to make way for the city’s largest ever office scheme, the brand’s success has been replicated in other locations, including Seaburn, Lincoln and Middlesbrough and St James’s, Newcastle.
Last year owner Danieli Holdings sealed an undisclosed sum from Kings Park Capital to increase expansion of the brand around the UK, saying Stack’s compelling proposition gives the brand significant potential. Now accounts for STACK have been published, showing the company secured investment of £9m from the investment company, allowing it to create vibrant hubs from shipping containers like the original in cities including Carlisle, Manchester and Sheffield, while others will breathe new life into empty retail spaces, such as the Lincoln site which has moved into a former Argos unit.
The first ever accounts for the company cover the first four months of 2024 since its incorporation and show it posted turnover of £2.4m, and gross profit of £1.3m. It posted an operating loss of £742,820 and a pre-tax loss of £1.35m reflecting a period of heavy investments.
A report signed off by director Neill Winch said: “STACK is a multipurpose leisure venue housed in shipping containers or large repurposed retail units. Each location offers a mix of independent street food traders and a vibrant programme of live events throughout the year. Stack Seaburn (acquired in December 2023) has attracted over 3m visitors since 2020.
“The group opened STACK Lincoln in May 2024 and STACK Middlesbrough in December 2024. The group is excited about the long-term prospects of these venues and the partnership with local authorities. The group has further plans to open exciting new STACK venues in Newcastle (Worswick Chambers, opening May 2025), Durham, Bishop Auckland, and Whitley Bay (all due to open by the end of 2025), with more in the pipeline.
(Image: STACK)
“The group has spent in excess of £25m on development costs to date and is on track to meet its growth targets in terms of both venue openings and operating income. In addition to this, the Group continues to provide modern solutions for vacant properties and/or under-used spaces supporting the re-imagination and regeneration of towns and city centres.
“The mutually beneficial partnerships with local authorities and communities help create a sustainable and vibrant experience as well as strengthening STACK position as a leader in sustainable leisure developments.
“The openings since the year end have performed significantly better than the Board’s initial expectations and the board is confident that the group will report significant growth for the year ended 30 April 2025. Given the current status of the economy, the directors are cautiously optimistic about future trading.
“The directors consider the group to be well placed to meet demands in the leisure sector. The group continues to be backed by KPC and their investment will be used to accelerate the group’s growth throughout the UK.”
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