Aldermore signals growth ambitions after move

ALDERMORE Invoice Finance, part of new British bank, Aldermore, has signalled its intention to grow its business after taking out a new lease on offices in the heart of Birmingham’s business district.

The firm has taken out 3,622 sq ft lease on larger, more modern facilities at 35 Newhall Street.

Aldermore said the move, set for February, would see it recruit and retain a larger network of clients across the Midlands and allow it to better accommodate its growing team.

Aldermore Invoice Finance said it had seen appetite for its services increase as Midlands’ businesses sought alternative funding solutions to facilitate growth.

Tony Smedley, regional managing director at Aldermore Invoice Finance in the Midlands said: “Since taking residence in our former Charles Street office in 2005 we have expanded the business from six to 16 employees and have outgrown the space.

“Our new premises at Newhall Street will support the growth of the business to a 26 strong headcount over the next 12 months, as we begin the next chapter of Aldermore’s development in the Midlands.
 
“King Sturge has assisted us in finding a new home at Newhall Street, which suits our needs perfectly. The open plan floor layout, contemporary workspace, welcoming environment and quality of service will ensure that Aldermore maintains its professional and approachable quality of service to a dedicated roster of advisers, clients and introducers.”

Charles Warrack, Senior Associate at property consultant King Sturge, commented: “Now 50% let, tenants at 35 Newhall Street include legal healthcare specialists, Capsticks, legal firm Kennedys, Zolfo Cooper and Three Lions Underwriters.

“The building offers organisations the opportunity to take advantage of its combination of a Grade A specification, prime Colmore Business District location, secure basement parking and excellent transport links across the city and beyond, in office suites from 2,500 sq ft plus.”

King Sturge and KWB are joint agents for the property which is owned by West Midlands Metropolitan Authority Pension Fund and fund managed by ING Real Estate.