THE UK’s largest commercial outdoor furniture business, AEL Outdoor Solutions, has secured a seven-figure commercial mortgage from HSBC UK to support the firm’s purchase of its warehouse.
Based in Reading, AEL Outdoor Solutions has completed the purchase of its formerly leased 30,000 sq. ft site using a seven-figure funding package from HSBC UK. The deal provides the business with improved financial stability as rent prices continue to rise while also allowing the business to remodel its warehouse to suit its business requirements.
Additionally, the bank is supporting AEL Outdoor Solutions internationally by enabling the business to make and receive international payments using local account details. By using HSBC’s credit card and Global Wallet solution, AEL Outdoor Solutions can streamline the purchase of raw materials from suppliers in China and Europe with a multi-currency virtual account.
Richard Smith, Director at AEL Outdoor Solutions, said: “The support from HSBC UK has been invaluable. As well as organising the funding for our warehouse, HSBC’s integrated platform means we can complete transactions with overseas suppliers much more efficiently.”
Cameron Rathwell, Area Director for Thames Valley & Solent at HSBC UK, added: “While the rental market continues to be challenging, we are happy to have supported AEL Outdoor Solutions in its acquisition of its site in Reading. This financial stability will allow the company to shift focus to its growth plans which we’re also pleased to be able to support internationally.”
Since inception in 2001, AEL Solutions has taken on contracts to supply outdoor furniture for household names, including Greggs, Pret a Manger, the National Trust, and many major UK restaurant groups such as KFC and Burger King.
