Worcestershire warehouse snapped up in £2.2m deal

A Worcestershire property firm has acquired a £2.2m warehouse in Redditch to add to its growing portfolio of properties across the Midlands.

Property company Wulff Capital Holdings has bought the 23,517 sq ft warehouse unit at 5A Merse Road, on the town’s North Moons Moat industrial estate, from a private London-based investor.

Ben Truslove, joint managing director at John Truslove, helped Wulff Capital Holdings secure the site and also negotiated a new, three-year lease with occupier Kettler UK.

Kettler UK is part of a German-based group, who expanded into the distribution centre, which neighbours their HQ, in 2019.

The firm distributes outdoor equipment from garden furniture and toys to gym equipment. The unit at 5A Merse Road tripled the size of Kettler’s previous warehouse next door, accommodating up to 5,500 pallets at a time.

The company employs more than 60 warehousing, accounts, customer service, sales and marketing staff in Redditch.

Wulff Capital Holdings director Ben Cowles said: “This is a good building in a good area.

“In real estate terms, Redditch is an exciting town to be investing in, and there is an excellent market for industrial and warehouse property at the moment.

“We had worked with Ben and the team at John Truslove on previous property deals. They have unrivalled knowledge of the local commercial property market and are great to work with – we have an excellent relationship with them.

“We were talking about another property with Ben when he mentioned that this unit was coming on the market. It was an ideal for our expanding portfolio”.

Solicitors from Harrison Clark Rickerbys in Redditch acted for Wulff Capital Holdings on the acquisition.