The independent paper merchant has bought HV Beever's former headquarters from fellow merchant Elliott Baxter for an undisclosed sum.

Elliott Baxter acquired HV Beever in September last year, and the Stratford site is just five miles from its Charlton depot making it surplus to requirements.

Following the sale of Moorgate's Hertfordshire warehouse last year, the company will now merge that operation with its warehouse in Bow and sales office in Shoreditch into one single site in Stratford.

Managing director Neville Simpson said he was pleased to acquire the premises following the collapse of a 3m bid for a site in North London.

Elliott Baxter will vacate the premises by Easter this year, and plans to expand in the Essex area with a new facility in the near future.