Leeds draws in European financial firm in region's 'largest ever' out of town office deal

A European credit management company has announced its relocation in the ‘largest ever’ out of town office deal ever recorded in West Yorkshire.

Lowell, which is currently headquartered in two buildings in Leeds Valley Park, has agreed a 15-year lease on a new building in Thorpe Park Leeds with Scarborough Group International.

It is the biggest property transaction that has taken place in the Northern Powerhouse region over the last 12 months.

John Pears, UK CEO at Lowell, said: “We are proud to have our roots in Leeds and as one of the city’s major employers, we are pleased to have found our new home at Thorpe Park Leeds.”

He continued: “This is an exciting move for the Lowell team and will ensure we can provide a place to work that our people feel proud of and that also attracts future talent from around the region too.”

Scarborough Group International secured planning consent for the new building in December last year as part of a commitment to invest £71m in the next phase of office development at Thorpe Park leads. GMI Construction has already started ground preparation works and completion is anticipated by Q3, 2022.

Kevin McCabe, chairman at SGI said: “This is a game-changing deal, not just for Thorpe Park Leeds, but also for the Leeds City Region as a location for world-leading enterprise.”

He continued: “We remain committed to investing further, even in these uncertain economic times, to build upon Thorpe Park Leeds as an attractive location for business, employment skills, quality of life and a flagship for the Northern Powerhouse movement.”

Councillor Judith Blake, leader of Leeds City Council, said: “A development like this is a major vote of confidence for east Leeds and is alight to the Leeds Economic Recovery Framework, which will power the city’s long-term response to the financial impact of the Covid-19 pandemic.”