Lending firm grows into £6m new home
SPECIALIST lender Together has expanded with the £6m acquisition of a neighbouring building.
The Stockport-headquartered business has bought No.1 Lakeside, a 33,000 sq ft building on Cheadle Royal Business Park.
The property was purchased from current owner Ian Pollitt of Cramer Properties, by a director of Together, to facilitate the growth plans of the business which offers a range of services including finance to homebuyers, investors, landlords and businesses.
Kevin Fisher, HR director at Together, said: “Together has ambitious plans for expansion and we need to ensure we have the infrastructure in place to support our increasing number colleagues.
“We are currently recruiting for a number of roles, many of which are newly-created in order to help us meet demand across both our commercial and personal finance businesses, so it’s an exciting time.
“But it’s essential we look ahead and plan accordingly to accommodate this growth.
He continued: “We’re really pleased about the acquisition of the neighbouring property, which allows us to expand while retaining our base of here in Cheadle. It’s a long-term plan, however, as there are tenants in the property currently, so there will of course be discussions taking place in terms of appropriate timescales for the transition.”
The sale was managed by OBI Property, in an off-market deal.
Together was established in 1974 and offers short-term finance, auction finance, residential, buy-to-let and commercial mortgages, and secured loans.
The company recently completed a £200m seven-year bond issuance, to support continuing growth.
The new bond will increase the group’s funding capacity to offer new loans, and comes just four months after Together successfully launched a separate £375m bond in October 2016.
Mike McTighe, group chairman at Together, commented: “We are delighted to have successfully issued this £200m bond on such favourable terms, so soon after completing our landmark £375m issuance last year.
“This investment is testament to the strength of our business and financial position, while demonstrating continued investor appetite and support for Together’s ambitious growth plans.”
“It’s essential we look ahead and plan accordingly”