Wage Day Advance moves into city centre spot as expansion drive continues
A YORKSHIRE payday loan lender has signed a deal to take the entire space at one of Leeds’ prominent office buildings.
Wage Day Advance, which is headquartered in Skipton, North Yorkshire and employs more than 150 people, has moved into Wellington Plaza. It has taken on the 20,850 sq ft office building in Leeds city centre on a ten year lease.
Wage Day Advance, which is looking at potential expansion overseas in Europe and Australia, was set up in 2001 by entrepreneur Dale Chapman. It was acquired by Speedy Cash Corp, a US-based provider of alternative financial services products, last year.
Carter Towler’s office agency team acted jointly with DTZ, on behalf of Legal & General, on the deal.
Pete Bradbury, of Carter Towler, said: “We had three lettings lined up for various parts of the building in early November 2013 but our disappointment at having to turn these parties away was substantially compensated by our delight when Wage Day Advance signed up for a lease on the whole building.”
The firm saw turnover increase to £39.5m in the year to the end of December 2012, from £34.2m, with pre-tax profits rising from £16.4m to £19.8m, according to accounts filed at Companies House last year.
Speaking after the business was acquired, Mr Chapman said: “The payday lending market continues to evolve and this will bring many opportunities. With its entrepreneurial style, scale of operations and technical know-how, Speedy is the perfect partner with whom to explore these opportunities and accelerate our growth.”
Wage Day Advance was unavailable for comment.
