Telford fishing tackle maker plans growth after taking on bigger premises
A fishing equipment maker is set to expand after snapping up larger premises in Telford.
Preston Innovations, which is currently based out of three separate warehouses, has relocated on the Stafford Park Industrial Estate which will allow it to increase its capacity and potentially further its growth in Europe.
It could potentially mean bringing in additional staff as the greater capacity at the new site, the former Peter Grant Paper premises which comprises 45,000 sq ft of offices and warehousing.
Ricky Teale, commercial director for Europe at the company, said: "We currently employ about 60 people in Telford and we have outgrown our current warehouses on Stafford Park. The actual space has been holding us back in terms of growth.
"I wouldn't say anything for definite, but potentially it could mean taking on more people as well.
"We have three warehouses, but we wanted more space and the chance to consolidate them into one."
He added: "We have three sites and we need to extra space and capacity to enable us to fulfil the demand we have got.
"We have about 700 accounts in the UK, and now we can consolidate that and probably double that in Europe.
"We can't move because out warehouse capacity is not big enough, and that's what we needed to do."
Andrew Dixon & Company agreed the letting of the premises on Stafford Park 12.
Preston is a £15 million-turnover business manufactures and distributes fishing equipment, and which was taken over by US company Zebco Brands in 2014.
The property will undergo a full refurbishment, with the company aiming to move its warehousing into the new site around Christmas time.
The property forms part of a larger complex with a detached building to the rear in separate ownership extending to a further 26,000 square feet. This has also been let to Preston Innovations on a co-terminus lease.
Nicholas Dixon, from commercial property agents Andrew Dixon & Company, said: "This large facility was vacated only a few months ago, with two adjoining properties that we are also instructed to dispose of, and we quickly identified a local company with a need for the excellent accommodation it provides.
"We are pleased to assist another foreign investor on behalf of multiple landlords to significantly extend its Telford operations.
"Both landlords are delighted that we were able to quickly able to put the buildings under offer, and we are expecting further announcements on the two adjoining former Peter Grant Papers premises in the coming weeks."