From tenant to landlord – 146-year-old law firm buys offices
An 146-year-old Lincoln law firm has bought its offices after the most successful year in its history.
Page Nelson, which was founded in 1875, has bought the offices it previously rented at Victory House in Henley Way The acquisition of the 4,600 sq ft building was supported by a six-figure funding package from Lloyds Bank.
The deal will see Page Nelson become landlord of the property, which provides office space for a number of local businesses, as well as hosting the firm’s own offices.
The £1m turnover practice, which has three partners, specialises in residential and commercial property work, wills and probate.
Director Steven Forster said: “This is a significant investment for the practice. Owning the building means we can use the space more creatively, giving us the flexibility to grow the team and expand our operations here in Lincoln.
“Victory House is a high-quality, modern office space in an excellent location with tenants in place, which also gives us extra security as we plan for the future.
“It’s an asset that we can pass on to the next generation of partners.
“The last year has been the most successful in the long history of the firm, and we’re looking forward to building on that.”
Nick Flanagan, relationship cirector, Lloyds Bank, said: “Page Nelson has a long history and a bright future, continuing to show impressive growth despite the challenges of the last year.
“Buying these premises is an ambitious move for the partners and another important milestone in the Page Nelson story.
“Lloyds Bank will carry on supporting them and other ambitious local firms to achieve their goals as part of our ongoing commitment to helping Britain prosper.”