Reading's AEL Outdoor Solutions acquires warehouse with HSBC mortgage

Published by

Tom Kilkelly

Credit: AEL

Reading-based commercial outdoor furniture business AEL Outdoor Solutions has acquired its formerly leased warehouse through a seven-figure commercial mortgage with HSBC.

This purchase, according to AEL, will help the company improve its financial stability amidst rising rent prices. AEL also plans to remodel its warehouse to suit its business requirements, something not previously possible whilst leasing the site.

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.”

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HSBC is also supporting AEL Outdoor Solutions internationally by enabling the business to make and receive international payments using local account details.

Cameron Rathwell, Area Director for Thames Valley & Solent at HSBC UK, said: “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.

Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022. During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan). His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.