Leeds College of Building (LCB) recently decided to dispose of its joinery machinery as part of a planned site restructure.
LCB, founded in 1960, is the only further education college in the UK dedicated to construction and the built environment. As part of its commitment to providing high-quality education and training for over 6,500 students, LCB recognised the need to upgrade a large section of its joinery department.
To make space for newer, more advanced equipment, they chose to sell older machinery.
This restructuring required a reliable partner to manage the sale and disposal of these assets efficiently and generate capital for reinvestment into newer machinery. LCB appointed BPI, a leading online asset disposal specialist, based on their existing relationship with BPI’s Industrial Specialist, Richard Travis.
BPI’s asset disposal solution
BPI recommended selling LCB’s joinery assets through its online auction platform to ensure a hassle-free sale and quickly free up valuable space.
Choosing the asset disposal route was a strategic decision, as BPI could market the assets to a wider pool of interested buyers. This approach encouraged competitive bidding, ultimately maximising returns for LCB.
BPI provided a comprehensive valuation, cataloguing and photography of over 40 lots of joinery and woodworking machinery, including:
- Weinig Powermat 400
- CNC Controlled 5 Head Planer Moulder
- Weinig Rondamat 960
- Profile Grinder
- SCM Record 110
- 3 Axis CNC router
- Interwood Single Daylight Heated Platen Press
- SCM Olimpic K203 Single Hot Melt Edgebander
- SCM R800 Band Resaw
- SCM S520 Thicknesser
The asset sale results:
The online auction was a resounding success, generating over £110,000 and exceeding LCB’s expectations.
The sale attracted over 200 buyers, providing an excellent opportunity to purchase professional-grade and well-maintained woodworking machinery.
By leveraging its extensive industry network, BPI ensured high visibility, attracting competitive bidding and securing premium prices.
BPI also managed the logistics and collections, commissioning a machine mover to safely transport the equipment to BPI’s warehouse facility over two days. This efficiently freed up space, allowing LCB to take delivery of its new equipment.
The swift and efficient 3-week turnaround ensured a smooth experience for both the seller and buyers, maximising returns and minimising disruptions.
Richard Travis, Industrial Specialist at BPI, said: “It was a pleasure to be involved in this auction. The seamless process ensured a highly successful outcome, with the college’s assets surpassing expectations by 70% over initial estimates. I was delighted to assist with cataloguing and managing the sale and wish the college continued success in the future.”
Sarah Mitchell, Management Account from Leeds College of Building, shared: “We are delighted with the service provided by BPI throughout the entire process. From the initial valuation to the final sale, everything was handled professionally and efficiently. The auction results exceeded our expectations, and the entire process was seamless, allowing us to free up space for our new equipment without any hassle. We look forward to working with BPI again in the future”
BPI continues to support businesses of all sizes in accessing capital tied up in assets, whether undergoing a business restructure, relocating, upgrading machinery or disposing of underutilised assets.
For more information on BPI Asset Disposal Solutions, please visit: www.bpiauctions.com/assetdisposal/
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