Electric motor and associated product supplier WEG has leased a 128,241 sq ft warehouse and distribution facility at Lakeside Point, Redditch.
The company is expanding its operation, moving from its current 46,940 sq ft spread across four units, at the nearby Manorside Industrial Estate.
WEG has taken a ten-year lease at the 4.87 acre site from Alpha UK Property Fund Asset, at a rent of £4 per sq ft.
Alpha will give the building a £400,000 facelift before the tenant moves in early next year.
CBRE acted for WEG while Colliers International and Jones Lang LaSalle advised Alpha.