How to work with 2 domains for SEO?

Hi guys,

I have a website which is doing pretty good. I'm in the process of buying another domain name. My main domain is like this ukfurnitures.co.uk and the new domain is like furniture.co.uk (Old owner killed the site and just sold me the plain domain)

the furniture keyword has a high search volume than ukfurnitures but my business is currently setup at ukfurnitures.co.uk and has a good SEO campaign.

My question is this; How can I make full use of furniture.co.uk domain to help with my SEO on my ukfurnitures.co.uk website.

1. Setup a simple website on furnitures.co.uk and link build this. Push it up serps and then link it to my ukfurnitures.co.uk just for the link juice?
2. Dont build a website on furnitures.co.uk and simply add a 301 redirect to ukfurnitures.co.uk? Is this method safe? Since furnitures.co.uk is not online or ranking yet I guess only traffic I will ever get is direct once?

Can anyone suggest me a few good safe ideas for me on how I can monetize this?

***Please note both site names are examples***

Thank you.

Hello.. i have reviewed your all query very carefully. See first your target market is UK and you existing domain ukfurnitures.co.uk cover your keyword " UK Furniture" so I suggest to use your second website as a Blog for main website. Google love to crawl blogs as its easy to index and rank. So i suggest to use second domain as a Blog.. post 2-3 time weekly fresh post related to Furniture. This way your both website will rank in search engine.

If you will use 301 re-direction then it effect ranking and traffic. As your current domain already cover "UK" keyowrd so i never suggest go for 301 re-direction..

Thank you for your suggestion.