£3.9m warehouse lease agreed by wood panel distributor
A 10-year lease has been signed at Merlin Park Industrial estate in Birmingham for £3.9m.
Mills & Reeve has advised Falcon Panel Products on the lease for the 43,000 sq ft warehouse as part of the firms expansion plans.
Founded in 1986, Falcon Panel Products imports and distributes wood-based panel products with a nationwide network of depots, with sites in West Bromwich, Gateshead, Haydock, High Wycombe, Leeds, Nottingham.
Headquartered in Tilbury, Essex, the company employs 112 people and has a turnover of £89.5m.
Falcon Panel Products supplies customers across the globe including Europe, the Middle East and South East Asia, and its increase warehouse facilities is designed to fuel its ambitious growth plans.
Graham Collier, principal associate at Mills & Reeve who advised Falcon Panel Products, said: “Having worked closely with the team at Falcon Panel Products for more than 15 years, it was great to advise on another new site as they move onto the next stage of their expansion.”
Steve Whysall, Managing Director of Distribution & Product Groups at Falcon Panel Products, said: “As has been the case for over a decade, working with Graham and the team at Mills & Reeve meant this expansion to a new depot has been handled with consideration”.
The agent for Falcon Panel Products was Tim Gilbertson at FHP and the surveyor, Simon Molsom at Gaskell.