Wed, 13/06/2018 - 10:51
Pure Retirement has agreed to take 12,575 sq ft of office space in Paradigm at Thorpe Park Leeds, a major regeneration scheme which is being developed by partners Scarborough International Properties and Legal & General.
The Leeds established equity release provider has agreed a 10-year lease to occupy the top two floors in Paradigm which is the first speculative Grade A office building delivered as part of the GBP162 million phase two development at Thorpe Park Leeds.
Pure Retirement is a multi-award-winning lender that has grown considerably in five years to become one of the top five in the UK sector. It is recognised as the fastest growing company in Yorkshire and is number seven in the top 100 SME’s by profitability.
Paul Carter, CEO at Pure Retirement says: “Pure Retirement continues to enjoy major growth targeting a quarter of the UK market share in 2019 with GBP1 billion in lending. During the last five years we have quadrupled in size to GBP21 million in turnover with a team soon to total 91. We are forecasting similar growth over the next three years to become one of the UK’s top providers.
“To achieve this, we require suitably prestigious headquarters and Paradigm at Thorpe Park Leeds perfectly matches our aspirations. Despite some pressure to relocate to the city centre, we felt that Thorpe Park Leeds delivers the best in terms of accessibility whilst also offering the quality of office space usually restricted to prime plots in the city.”
“Paradigm will facilitate our rapid expansion plans and the impressive top floor terrace will provide fantastic social space for us to host our own events. We are also excited to see the opening of the new 350,000 sq ft retail and leisure park later this year which will provide abundant doorstep amenities for the team.”
Paul Holcroft, Head of Commercial Leasing at Scarborough International Properties, says: “We are delighted to agree this significant deal with Pure Retirement to occupy two full floors at Paradigm. It is good to see that the business, like many before it, has chosen to remain at Thorpe Park Leeds which is testament to the quality of space, environment and business support on offer.
“The majority of remaining space at Paradigm is now under offer which would leave just one 6,250 sq ft suite available. However, planning consent is in place to deliver over 900,000 sq ft of prime office space in phase two with design and build opportunities now available.”
Rachel Dickie, Head of Urban Regeneration at Legal & General Capital, adds: “It’s great that we have been able to accommodate the expansion of Pure Retirement at Thorpe Park Leeds and look forward to supporting their next phase of growth. Paradigm is the first building to be delivered in partnership with Scarborough, creating quality space that is otherwise only found in the city centre. When the retail and leisure scheme opens later this year, Thorpe Park will also have a much improved amenity offer for those living and working in the area.”
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