National fund manager relocates Birmingham HQ
Frontier Development Capital (FDC) has relocated its Birmingham headquarters.
The firm has moved its operations and 25 staff from Baskerville House to a 5,246 sq ft office on 45 Church Street in the heart of the city’s business district.
FDC provides access to investments of up to £10m, and after making five new staff appointments in the last 12 months, the relocation will provide the firm with the space it needs to continue its expansion.
The move follows several high-profile deals such as supporting the management buyout of Hammonds – a national fitted furniture manufacturer and retailer employing 837 staff.
FDC has also enabled notable property investments, the latest being a £3.5m loan supporting a scheme led by Cedar Invest to transform 0.86 acre of brownfield land in Digbeth, Birmingham into a 140-apartment development.
Sue Summers, CEO at Frontier Development Capital, said: “This is an important milestone for Frontier Development Capital. Only three years since launch, the firm has grown rapidly, increasing funds under management while delivering crucial investment to mid-market businesses across England.
“45 Church Street will provide us with both the space and modern facilities needed to further grow our team, as we continue to establish FDC as a leading fund manager in the alternative funding landscape.
“We will also continue to see resilient, impassioned businesses coming through despite the uncertainties in our economic landscape, and we look forward to welcoming investee businesses, intermediaries and other partners to our city-centre home in the months to come.”
FDC officially opened its new office at an event, which was attended by guests from the region’s business and finance community.
The move was handled by Cushman & Wakefield, via its Birmingham office at No. 1 Colmore Square.
David Rigby of Cushman & Wakefield said: “Located in the heart of the CBD, 45 Church Street offers Grade A quality accommodation in an unrivalled location. The new base will help FDC attract and retain the best staff and it joins a host of prestigious occupiers including Bellpenny, Turner & Townsend and JLT.”
Liz Bailey of CBRE acted for the outgoing tenant.
