Lowes Financial Management relocates to former Greggs head office in Jesmond
Independent financial advisory firm Lowes Financial Management has expanded to Fernwood House in Jesmond, the former head office of Greggs.
The move gives the business almost 10,000 square foot of additional space, providing more client meeting rooms and space for the company to grow further.
Currently based in Holmwood House, Clayton Road, Lowes will be moving just two doors down to Fernwood House on May 20.
Contracts for the deal were handled by Gordon Brown Law Firm LLP to buy the property from North East food-on-the-go retailer Greggs.
Ian Lowes, Lowes Financial Management managing director, said: “The opportunity to acquire Fernwood House came at just the right time for us. We’ve gradually expanded to occupy all of the available space in Holmwood House & Mews and Fernwood will give us a lot more breathing space and plenty of room to expand.
“Additionally, whilst we have loved working out of Holmwood House, the extended Fernwood House provide a more appropriate layout which will facilitate closer integration of departments and greater efficiencies.”
Lowes started in Pilgrim Street, Newcastle, in 1971, moving to 10 Market Street in 1973 where it gradually expanded, taking on more offices above and between Lloyds Bank and Northern Rock Building Society. When Lowes moved to Holmwood House in 1984, there were just 12 people working for the company.
As the firm expanded it acquired a neighboring property, Holmwood Mews in 1991 when the previous occupants JW Mitchell Dodds Solicitors moved.
Over its 45-year history, the company has continually expanded and now more than 70 individuals work for, or are associated with Lowes to the extent that Holmwood House has reached capacity.
James Ramsbotham, North East Chamber of Commerce chief executive, added: “Lowes is a perfect example of a strong, Newcastle business which has grown through building a reputation for providing a great service.
“The firm’s expansion, and the opportunities it presents for new employees, is excellent news. I wish them every success in this next stage of their ambitious plans.”
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