A specialist arm of a new business bank has relocated to a new Birmingham office in the heart of the city.
Aldermore Invoice Finance, part of Aldermore, is set to take 3,622 sq ft at the newly refurbished 35 Newhall Street in the city’s Colmore Business District.
The company hopes the move next February to larger, modern premises will enable Aldermore to recruit and retain a larger network of clients across the Midlands and to accommodate its growing team.
Factoring and invoice discounting specialist Aldermore Invoice Finance, which was set up in 2000, was formerly part of Cattles and was acquired by a private equity house and renamed Absolute Invoice Finance in September 2009 only to revert to its original trading name two months later after it was sold to Aldermore Bank.
Aldermore Bank itself is backed by AnaCap Financial Partners and Morgan Stanley Alternative Investment Partners and is focused on lending to small and medium-sized businesses.
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, added: “Now 50 percent 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.