Equity release provider Pure Retirement, the fastest growing company in Yorkshire, will be taking 12,575 sq ft of office space in Paradigm at Thorpe Park Leeds, a regeneration scheme that is being developed by partners Scarborough International Properties and Legal & General. It has agreed on a 10-year lease to occupy the top two floors of the building.
“Pure Retirement continues to enjoy major growth targeting a quarter of the UK market share in 2019 with £1bn in lending. During the last five years we have quadrupled in size to £21m 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,” said Paul Carter, CEO at Pure Retirement.
“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,” he added.
Thorpe Park Leeds is located off junction 46 of the M1 motorway and it consists of 800,000 sq ft of development built and occupied to date. Over 60 blue chip businesses occupy space at Thorpe Park, employing around 4,500 people.
“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,” commented on the news Paul Holcroft, head of commercial leasing at Scarborough International Properties.
Following a £162 million investment deal with Legal & General Capital, Scarborough International Properties and Legal & General are progressing a transformational 1.35 million sq ft mixed-use expansion at Thorpe Park. Phase two is currently underway and it includes a new 350,000 sq ft retail and leisure park due for completion this autumn.
The plan also includes a further 900,000 sq ft of Grade A office accommodation, 300 new residential homes by Redrow and a 113-acre public park with sports facilities.